CLEVELAND – Think consumer prices are high now? Just wait until after New Year’s Day, when we’ll likely start to see a number of price hikes on items stacked on store shelves.
The money saving website Deal News.com says a combination of high oil prices, earthquakes and violent weather in Japan and Thailand, and a recovering U.S. economy will push prices higher on a number of goods.
With oil now at $100 a barrel, a record for the end of December, anything oil related or impacted by oil prices — such as shipping — will rise in the new year. And if oil moves up to $120 or higher next spring, anything that is shipped by truck will almost invariably go up as well.
Prices going up soon
Deal News says expect to see price hikes on:
Gasoline: Many experts are predicting the return of $4 gas by May.
Airfare: Rising jet fuel prices will send fares higher again. Plus, flights to Europe will be hit with a new $30 round trip “green tax.”
Digital cameras: The smartphone has replaced cheap point-and-shoots, so remaining cameras will have more high-end features and cost more.
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