These days, prices are hiking for everything from basic necessities to luxuries of life. But if we know pre-hand what will be economical and what will be even more expensive in the time to come, we can devise our shopping list respectively. We can even stock a few things, especially those that will be more costly in 2018.
Below is the list of things for your convenience and knowledge that will be taking, in our opinion, a price hike in 2018.
The first thing that will surely take a price hike is smartphones. These days life without them seems impossible and when there is a demand of a particular product then the price naturally goes up. Even today, the new phones that are coming in the market are being launched at a higher price. The reason for this could be the better features that these new phones have, a good reason to increase their prices, from a manufacturer’s perspective. Whatever the smartphone company be, for instance Apple, Samsung, Nokia, Huawei, Google, or local companies they all will be subjected to this increase in the cost. So, we suggest you to stick to your old sets as long as possible and you never know, may the price come down after the middle of the year 2018 (fingers crossed).
Streaming Video Services
These days all major companies and brands are launching their own streaming services that you can subscribe to if you want to see their shows and movies. This streaming video service will be another thing that will be costlier in the upcoming year. You would have to subscribe to multiple services instead of one or two to access your favorite shows as the services providing the streaming for your favorite shows will multiply into manifold.
Even this year, major names and channels like Disney have announced that they will be launching their separate service while pulling its content away from Netflix and some have already done it which will ultimately disturb your budget of the month and year on the whole.
For the people who travel a lot for business and pleasure, we hate to disclose that fares for travelling will take an increase in the 2018. Not only travelling, also staying will cost you more. Not much more, there’s a 4% expected increase in both airfare prices and hotel prices, but it’s an increase and the travellers will have to pay higher fares for their air tickets and for their accommodation. This means that you will have to save extra for your annual break from 2018 and onwards.
Might there be a difference in costs of travel & stay in different countries, so we suggest you to research about the differences before deciding where to go. We also suggest you to travel to nearby locations and countries because international destination for your vacation will end up costing you big time. You can also research about the cheapest mode of travel and can save a little extra by staying with your friends or relatives, living in that area.
Home Construction, Remodeling, and Repair
Construction material will also cost you big time because the numerous natural disasters have increased the demand for them for the construction of new, and remodeling and repairing of the old houses. The prices in the industry have already jumped higher but in 2018 the prices will go up even more.
Not only construction material but even the grocery will take an increase of 1% to 2% in 2018. Though this year they were observed to have decrease but various national level estimates depict the expected increase in the upcoming year. Our suggestion will be to stock up the things that can be preserved and stored for longer period, before it may became a burden on your wallet to buy the basic and needful grocery items.
Naturally, with the increased prices of grocery items, restaurants will have to increase their prices for their serving dishes too. So, eating out will thin from the year of 2018. When the restaurants will have less visitors they may increase their rates further more to continue running their business. This gesture on the other hand will make it nearly impossible for the regular waged people to eat out at the restaurants, more often.
Another thing that will get more expensive in 2018 will be the college education. Even till date, the cost of college education has taken a leap as compared to the last decade. The annual increase of 3% to 4% is on top of that in the public university. But even the cost of attending a private university has increased and may increase further in 2018.