The epidemic is still raging around the world and full of uncertainty, but one thing is for sure, some products will continue to be more expensive this year.
For some, buying a home is one of the biggest challenges during the pandemic. 2022 continues to push house prices up. According to Selma Hepp, economist at CoreLogic Group, based in California (USA), house prices across US cities could increase 2-3 times.
Higher prices can reduce demand for homes, which means fewer bidding wars and makes it easier for some people to buy a home. Moreover, the rent is high, so many people will still try to buy an affordable house.
Over the past year, food prices have escalated. It’s not just staples like eggs, meat and dairy that are getting more expensive; which the soft drink company also announced a price increase due to supply chain and labor issues. Even cookies like Oreo or Ritz have just announced they will increase 7% from next year.
Try buying in bulk or get a supermarket card to save some money.
Supply chain pressures will push retail prices of clothing 3.2% higher on average, according to a report on Business of Fashion. Fashion executives also said they would increase the price of clothing by 10% or more by 2022.
To save money, before buying anything new, turn your old clothes into money. Buying on major holidays or off-season will also save more.
4. Eat out
Two years of the pandemic, restaurants have suffered badly. In the new year, the challenges of human resources, or food costs are still increasing. Restaurants will have to raise wages to retain staff, spend more money on ingredients and ultimately lead to higher prices on menus.
Look for deals, or get a membership card to save money.
The negative developments of Covid-19 globally have caused car prices to continuously reach new peaks. According to Kelley Blue Book, market analyst at Cox Automotive, the average new car price in the US in September 2021 was $45,031, marking the first time in history that the average transaction price surpassed $45,000 and the For the sixth month in a row, prices have increased.
6. Computers and electronic devices
Computers, TVs and video game consoles have all been hit hard by ongoing component shortages. The pandemic has contributed to an increase in the demand for shopping for gaming equipment.
Staying at home a lot makes people want to change their living space. According to the United Nations Conference on Trade and Development, furniture prices could increase by more than 10% this year due to higher freight rates from abroad.
8. Medical care
Hospitals are dealing with rising costs of medical supplies, even diapers and toilet paper, while insurance companies aren’t always willing to pay this extra price. In the US, healthcare costs have increased by 8.4% compared to 2020 and will continue to increase in 2022, making healthcare beyond the reach of many.
Bao Nhien (Follow CNBC)