From gas to groceries, it seems like everything is going up in price this year. Even those frugal money savers are impacted through these price hikes.
Welcome to 2021, where filling up the car now costs twice what it was last summer. Gas is now hitting $3 in many areas, even around $4 in California.
But Business Insider says to get those wallets ready, with Americans spending those stimulus checks, starting home improvement projects, and traveling again.
Home prices are up 20% this year. Lumber prices have doubled due to soaring demand.
Airfares are up, with last year’s $39 flights long gone. And rental car prices are spiking, with daily rates soaring to $200 a day in some vacation spots.
And from the “Doesn’t That Stink” file, all the grocery items jumping in price.
P&G and Kimberly Clark have both announced price increases on diapers and many paper products, like paper towels. Business Insider says Coke and coffee are up too.
And last year’s price hikes on chicken and pork never went down, and that stinks.
What it all means is that those pandemic price breaks — with everyone locked at home — are not just a memory.
With so much pent-up demand from last year, and so many products in short supply, don’t expect a break anytime soon.