Seven Things That Will Cost You More in 2023, Plus One Massachusetts Item You’ll Be Paying More For!
Inflation was a hard fact of life in 2022, and 2023 is looking better, but not so great.
Sure, gas prices are calming down and a computer is actually not as expensive as a it used to be, but have you seen the price of eggs?
(If not, a word of financial advice: invest in a chicken.)
Not to add salt to your wound (oh, and have you seen the price of salt? Prices for salt and other seasonings and spices are 77.97% higher in 2022 versus 1997 .)
So, we looked up price increase predictions for 2023 and you might not be happy. (Well, who is happy when you have to pay more for things you really need?)
But before we get to the bad stuff, here’s some good news! According to USA Today, the used car bubble may burst.
“Car shoppers have faced sky-high prices for more than a year in part because of high demand and tight inventory. But 2023 may finally bring some relief.
“As demand stabilizes and inventory improves, prices are expected to ease. Prices could drop up to 5% for new vehicles and 10% to 20% for used vehicles, according to a report in Novemberfrom the bank J.P. Morgan.
Consumer research firm J.D. Power projects new-car prices will fall somewhere between 2% and 10% next year, according to Tyson Jominy, vice president of data and analytics at J.D. Power.”
So that’s something to look forward to!
Anyway, here are the Seven Things That Will Cost You More in 2023, plus one Massachusetts Item You’ll Be Paying More For!
HBO Max
When HBO Max combines forces with Discovery+, you can expect to see a price increase in your monthly rate. Even worse, the merge was originally set to launch in the summer of 2023 but is now expected by the spring, which means the price hike will likely happen even sooner.
NEW YORK, NY – (Photo by Noam Galai/Getty Images for HBO)
Rent
According to Insider, rents are going to keep going up. Economists at Realtor.com predict a price increase of 6.3% nationwide in 2023.
SAN FRANCISCO – (Photo by Justin Sullivan/Getty Images)
Postage
Get ready, America: The U.S. Postal Service is about to raise the price of a “forever” stamp. On January 22, 2023, forever stamps will go from 60 cents to 63 cents. While 3 cents might not seem mind-blowing at the outset, over time those three little pennies can add up. On the other hand, the USPS will reportedly be a billion dollars in debt by the end of the year. Due in part to that, you can expect to see prices go up for other postal services, as well, including metered letters and shipping.
(Photo By Getty Images)
Costco Memberships
Costco membership costs are on the rise. Costco’s last fee increase took place in 2017, when the price increased by $5 and $10 for the basic and higher tiers.
(Photo by Tim Boyle/Getty Images)
Dining Out
According to the USDA, diners can expect a 4-5% increase in prices at their favorite restaurants in 2023.
PLUS, in Massachusetts? A house. Yikes!
In Boston, Realtor.com predicts that sales growth will be down by less than a percent but that prices will increase by 9.5% year over year. In Worcester, sales growth will increase by 2.5%, while prices will increase 10.6%.
