Increased Cost Of Some Items In 2014 Might Give You ‘Sticker Shock’
NEW YORK (CBSNewYork) — Get ready to dig a little deeper into your pocket at some of your favorite places and for some necessary items this year.
Chipotle Mexican Grill is so popular people have written songs about the chain restaurant. But those fans might be singing a different tune after the restaurant chain increases its prices come the middle of 2014, CBS 2’s Maurice DuBois reported Thursday.
The increase is estimated to be between 3 and 5 percent, but the final decision has yet to be made, DuBois reported.
“They’re looking to switch to non-genetically modified ingredients including their oils, which is expensive,” said Mark Locastro, of Dealnews.com. “They’re passing that cost on to the consumer which is unfortunate but it will be healthier for them in the long run.”
Also costing consumers more this year: milk.
“The increase is due to the increase demand in exporting the product and also because of Congress’ issues with passing tax subsidies for agriculture. So that created a perfect storm for milk prices to increase in 2014,” Locastro explains.
Right now, skim milk costs about $3.50 a gallon, while whole milk is more than $4.00. These prices are expected to increase between 10 and 20 cents per gallon within the next three months, DuBois reported.
And that’s not all.
The cost of a first-class postage stamp is set to increase by three cents to forty-nine cents later this month.
Traveling with your pet on a plane will cost more than ever this year. Southwest Airlines, which offers the cheapest pet fee at $75, is raising it to $95.
Bakers will be forced to shell out more for pecans this year thanks to record rainstorms that depleted the nut’s crops by 35 percent.
And if you’re a wine lover, that bottle of Bordeaux might break the bank in 2014 thanks to foul weather that caused a dismal grape harvest in France.
Beef prices are also expected to rise between 3 and 6 percent this year as a result of smaller herds.
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