10 Price Hikes In 2013 You Will Have To Cope With

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With empty wallet into 2013

Source: web

2013 will be a year of increased payments! These are 10 things that Americans will have to pay more for in this year. Well, this is what America gets; America has too many people in office that do not understand free trade or what makes a business run.

1. Time to be a Vegetarian!

2013 will most probably see many meat eaters jump ship to become vegetarians! Why? According to the U.S. Department of Agriculture, the predictions for 2013 include a steep 4 percent price hike in the rates of all popular meat products such as hamburgers, bacon, steak, and everything else in between. You can blame the drought conditions that have reduced the capacity of farmland in the country and have led to the most common animal feed, corn, to become highly expensive in 2013. This has directly affected the livestock inventory of farmers who just can’t afford the high price of feed.

It certainly does not help that America was duped into believing corn based ethanol was a rational idea. That would help alleviate this problem if this ridiculous practice would end.

2. TV Woes

2012 saw many issues arise between programmers and TV distributors. One of the items you will most likely be paying higher prices for in 2013 is your satellite TV bill. DirecTV and other satellite TV bills are set to rise by at least 4.5 percent beginning on February 7th, 2013. Fortunately for new customers, the promotional prices offered to them will not be affected.

Dish Network has also increased prices by approximately $15 per month starting on January 17th, 2013 due to an increase in programming costs.

3. Tickets to Baseball Games

Fans of baseball will have much to groan about this year. The New York Mets have introduced the ‘dynamic pricing’ model that will help bulk ticket buyers compared to those fans interested in watching just single games or a game just here and there. This means that the cheapest opening game tickets will start at around $63 per ticket, which is about twice the price from last year! Teams such as the Kansas City Royals and Seattle Mariners will be following suit but the Chicago Cubs and Boston Red Sox fans have nothing to worry about since both teams have retained or lowered their pricing. This could have something to do with both of those cities being bankrupt accompanied by high unemployment levels in those cities.

4. Dairy Products

The prices of dairy products will see an increase of approximately 4.5 percent in 2013 as per the U.S. Department of Agriculture. This includes products such as milk, eggs, and cheese. However, research economist Ricky Volpe associated with the USDA’s Economic Research Service is of the opinion that though people will feel the pinch of this price increase, it won’t be quite as bad because the price increase is not comparable with the food inflation levels that they have experienced in 2007, 2008, and 2011. That does not exactly make anyone feel better.

5. USPS Hikes

The U.S. Postal Service is all set to make sending letters more expensive in 2013. Following record losses in 2012, a price hike would have been inescapable or borderline predictable this year. From January 27th, 2013, postcard stamps will cost 33 cents instead of 32 while standard postage stamps will cost 46 cents instead of a 45. Other postage charges that are slated to rise include shipping costs which will go up by about 4 percent and priority mail flat-rate envelopes and boxes by 9 percent or so. Trying to steer clear of these price hikes by opting for the services of Federal Express or United Parcel Service will not do any good because both companies have announced average hikes of about 5 percent in 2013 as well.

Many people are wondering if the U.S. Post Office has trimmed down pension plans enough? These price hikes would not be happening if America had fuel costs less than a $2 per gallon which could be the case with different policies.

6. Public Transportation

Commuters in cities such as New York and Chicago will see the cost of public transportation increase by quite a percentage. For example, Chicago Transit Authority fares are slated to increase by a whopping 120 percent on January 14th, 2013. Monthly bus and train (L Pass) passes will face a price hike from $86 to almost $100. In New York, commuters will see an increase of at least $8 for a monthly subway pass while single fares will increase by a quarter.

7. Taxes and Expiring Cuts

The payroll tax cut expired on December 31st, 2012. This means tax rates will be back to their normal high levels which will only suck away more money from workers to give to people who refuse to find a job. Workers all over the country will be paying a 6.2 percent tax instead of 4.2 percent one on the first $113,700 they earn. Under the new rates, an employee earning $50,000 a year will receive $83 less and a worker earning $100,000 will be taking home $167 less per month. Other 2013 hikes include rate spikes from 35 to 39.6 percent for those making $450,000 and more a year, less deductions in taxes for upper income workers, and an increase in the estate tax for estates that are worth more than $5 million. For what? To pay for someone’s health care who made the wrong decisions in high school or pay for troops in Italy that have been there for 60 years.

8. No More Smartphone Subsidies – T-Mobile

T-Mobile is no longer offering customers a chance to upgrade to the $200 smartphone. This means that customers will be paying a whole lot more for smartphones with T-Mobile this year. Of course, it’s not a no-win situation for customers. Instead of obtaining smartphone subsidies, customers will be able to save money in annual phone costs by attaining the T-Mobile value plans when they pay full price for the phone.

9. Vroom Vroom! But at Higher Costs

If you have waited till 2013 to buy your new car, you are in for an unpleasant surprise. Some car manufacturers such as Lexus and Hyundai will be hiking their prices for specific models. The 2013 Lexus CT 200h will cost about $3,000 more while the 2013 Hyundai Elantra Sedan will be up by $1,350. Of course, these cars will have plenty of new features compared to their yesteryear versions so you will be paying for better quality automobiles.

10. Ouch! Healthcare

For another year in a row, healthcare prices will be shooting up in 2013. Well, now you have to pay for your former high school classmates’ health insurance who were too cool for school and chose to quit and now are living pay check to pay check. Moreover, according to a study conducted by Aon Hewitt from Chicago, it is predicted that healthcare premiums will shoot up by 6.3 percent! Price Waterhouse Cooper’s Health Research Institute study predicts an overall healthcare cost increase by 7.5 percent in 2013.

And all this while incomes decline.

It will be an expensive year ahead!

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About Author

Benjamin is from Sacramento, CA. He has 2 master’s degrees and served 4 years in the U.S. Navy. He has worked at Wells Fargo Financial and has been investing in equities since 1995. He is a constant reader of finance articles and books related to business.


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