If you plan to do any shopping this year, prepare yourself for higher prices.
Prices are going up on a number of popular items, according to new government reports.
Prices go up every year. That's why everyone -- even social security recipients -- needs an annual cost of living increase.
What's Headed Up
According to U.S. News:
Food prices will rise faster than inflation, especially the price of beef, bread and chocolate. Overall food prices are predicted to rise about 3 percent.
Clothing prices will continue their recent rise, as the cost of cotton increases.
Houses will be more expensive for the third year in a row. There is no definite answer how much higher home prices will be in 2014, but real estate analyst company Clear Capital reports home prices nationwide increased 10.9 percent in the past year.
Stamps are going up to 49 cents on Jan. 26. This is a temporary price hike, designed to last two years.
Cable and satellite television is also going up in price.
According to The Wall Street Journal, the average cable bill jumped from $48 in 2001 to $128 a month in 2011. Customers of DirecTV and Dish Network can expect to pay about $2 to $5 more a month this year.
What Will be Cheaper
There is some good news about costs in 2014, however.
Gas prices are not expected to climb, barring a major world event.
And HDTV, laptop, and tablet prices are expected to continue to fall, which is great for gadget lovers. Of course, you can't eat your tablet.
As always, don't waste your money.
Don't Waste Your Money is a registered trademark of the EW Scripps Co.
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