Prices for everything are ALL over the place right You never know which item is going to skyrocket in prices next.
Right now, our economy is attempting to bounce back from the Covid-led recession. With so many supply chains being short handed, it has been impossible to keep up with nationwide demands.
One of the biggest questions is whether these awful prices are going to stick…and for how long. The hopes are for prices to start stabilizing in 18 to 24 months, once suppliers and manufacturers start getting caught up again, but until then, here are the items that you need to keep an eye on.
At the beginning of the pandemic, retailers stopped producing so much clothing due to lack of sales. Having no idea when the economy would pop back, retailers are behind on getting stores stocked, causing it to be a little more difficult to find what you’re looking for…and a whole lot more expensive. Promotional and seasonal sales also seem to be lessening due to it being unnecessary from the amount of demand.
Once Covid hit, plane tickets were cheaper than we have EVER seen. But now that summer is approaching and everyone is returning to normalcy, they have started to sky rocket again. Domestic flights are up 7% from the typical price, while international sales are up to 13% inflation.
Washers and Dryers
The prices of steel and plastic are going up, causing appliance prices to rise up 12% in cost…which is a lot for an already expensive product. Whirlpool has claimed that they have already lost 1 billion in profit from the material upcharges.
Beef and Pork
Meat is costing up to 20% more than normal for retailers to purchase, so I can only imagine what it’s going to be for us customers. Meat processing plants slowed down drastically during covid which is causing such the demand now.
Other items such as gas, used cars, and furniture appear to be spiking as well. If you weren’t into stockpiling or buying things while they were on sale before, you may consider doing so now.