In 2010 it may have felt as if we were seeing the recession at its worst, and that if we could just make it through the year surely things would be better in 2011. But you may want to think again, no one knows exactly what 2011 has in store, many speculate that it will cost consumers even more than the year before. From car insurance to chocolate, prices can only go up from here.
Dealnews Executive Editor Beth Pinsker, says these prices will jump in 2011.
1. Car Insurance. She says car insurance goes up faster than inflation.
2. Chocolate. Cocoa prices are at a 30-year high. Pinsker says you might see retailers use smaller boxes.
3. VoIP services. These services can be taxed, so you should see higher prices in using companies like Vonage.
4. Airfare. Fares themselves might not cost more. Pinsker says airlines made so much money on fees for baggage and snacks that you're likely to see more extra charges.
5. Cars. During the recession, it was a buyer's market. But now, dealers won't be so eager to get cars off their lot.
6. Nintendo 3DS. The handheld video gaming device is expected to be released in February. The cost is expected to be over $300.
7. Health Insurance. Health care costs are going up. You can expect your insurance company to pass those increases onto you.
8. Breakfast. Grain prices are high. Pinsker says you'll pay more for cereal, milk, eggs and bacon.
9. Coffee. Futures are up for coffee,and that means it will cost more to get you going in the morning.
10. Music. Apple raised prices for songs two years ago. Pinsker says you should expect to see prices creep higher in 2011.
To see 10 other items that will go up in price, click here.
In addition to the items listed above gas prices are also expected to climb up. It seems that the price of gas is always on the rise, and its said 2011 will continue that trend . In 2010, prices increased about 13 percent, however some analysts are concerned that prices jumped almost 30 percent since September.
You can also expect to see free checking to become a thing of the past. Bank of America dropped its free checking in 2010, and more big banks are expected to follow suit.
Auto loans are another area that are expected to cost more. While lenders may start giving out cash for the loans, it doesn't mean those loans will cost any less in 2011. Interest rates are set to rise and larger fees can be expected down the line.
To see a list of what else is predicted to go up this year click here.
