We all know that nobody can escape death and taxes. But inflation is also a pesky bugaboo that is hard to shake.
How will inflation impact you in 2020? Here’s a look at the expected trend in some key sectors.
Retail food prices are expected to rise between 1.5% and 2% in 2020, according to the U.S. Department of Agriculture.
Looking for ways to trim your food budget? Check out “25 Ways to Spend Less on Food.”
The U.S. Energy Information Administration expects gas prices to average $2.56 per gallon in 2020, according to a Dec. 27 estimate.
Remember, you can always save more no matter what the price is at the pump. For tips, check out “7 Smart Ways to Save Money at the Gas Pump.”
The College Board says that in this current school year (2019-2020), tuition and fees for a four-year public college at in-state rates were projected to rise by 2.3%.
For more on saving money during your college years, check out:
- “6 Essential Money Lessons Every College Student Needs to Learn”
- “15 Ways for College Students to Save Money“
4. Health care
Health care costs typically increase faster than costs in other sectors of the economy. Consulting firm PricewaterhouseCoopers projects health care costs will grow by 6% in 2020.
Fortunately, there are ways to tame those costs. For more, check out “5 Ways Anyone Can Save on Out-of-Pocket Health Care Costs.”
Has inflation been a factor in your buying habits? What price changes are you seeing in your daily life? Share with us in comments or on our Facebook page.