2013 price cuts and price hikes

Financially Fit Videos

To help you better budget in the New Year, here’s the scoop from DealNews.com  on what you can expect to pay more for, and items that will cost less:

What’s going UP in price this year?

Food
The price hikes continue.  Expect to pay about 4% more this year for dairy, meat, poultry and grains, according to estimates from the USDA.

“To combat higher prices, buy items in bulk or shop at a grocery chain like Wegman’s.  Its prices are fixed through the end of April this year,” says Lindsay Sakraida, Features Director, dealnews.com. For other ways to save on groceries, click here.


New cars
The bottom line is that new fuel efficiency standards set forth by the government are driving up costs on new cars. “Toyota hiked prices on its mid-size Camry by roughly $175, and among the best selling luxury cars, the 2013 Lexus CT 200h will be almost $3000 more than the 2012 model,” says Sakraida.

Computers and tablets with retina touch screen displays

Home theater systems with premium features
If you want the latest and greatest in home theater, like Ultra HD TVs, which include an extremely high pixel density, expect to pay through the nose--as in $20,000-$25,000!

iPhone 5 accessories
The iPhone 5’s new Lightning connector has resulted in a host of brand new accessories that have no prior-generation alternatives.  And that means premium prices--for a while.
“Don’t expect price drops until a new generation of models come out, by summer at the earliest,” says Sakraida.

College tuition
The cost of a college degree in the United States has increased by 1120% over the past 35 years, far outpacing the price inflation of consumer goods, medical expenses and food. And there’s no end in sight.  According to the College Board, estimated total costs at a private college/university in  2013/2014: $58,640; estimated total costs in 2016/2017: $71,830. Estimated total costs at a public college/university (in state) in 2013/2014: $27,210; estimated total costs in 2016/2017: $33,330.

What’s going DOWN in price this year?

LCD HDTvs
There were some incredible deals on LCD HDTV’s on Black Friday, but expect even better prices right around Superbowl Sunday. You’ll find the most notable drops on 60” LCD TVs because the size is no longer viewed as a premium category, says Sakraida.  “The 60-inch is the new 55-inch, and you can buy one for around $700.”

Hard Drives
While deals on external hard drives were scarce - and prices were high - in 2012, what a difference a year makes: in 2013, quality deals will prevail and you can expect price cuts of about 30%.

Streaming video subscriptions
Movie buffs, take note: Redbox’s new streaming video service, which includes four one-day DVD rentals with unlimited streaming, costs just $8 a month. Contrast that with Netflix's streaming and 1 DVD-at-a-time plan. It costs $15.98.

Microsoft Surface RT
For $699.99, this tablet is now being offered at more retailers like Walmart and BestBuy, where they run regular promotions.

Smartphones
More smartphones are being offered for free, with a two-year contract.  Some retailers are even throwing in gift cards or credit with purchase.

What price cuts - or hikes - have you noticed so far this year? Tweet them to me @veragibbons and use the hashtag, #FinFit.


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