Here’s How High Inflation Could Go in 2020

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.

1. Food

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.”

2. Energy

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.”

3. College

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:

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.

Find cheaper car insurance in just minutes

Getting a better deal on car insurance doesn't have to be hard. You can have The Zebra, an insurance comparison site compare quotes in just a few minutes and find you the best rates. Consumers save an average of $368 per year, according to the site, so if you're ready to secure your new rate, get started now.

Read Next
17 Items Under $40 That Will Organize Your Home
17 Items Under $40 That Will Organize Your Home

These clever products on Amazon can help transform a messy nest into the pristine home of your dreams.

7 Things I Always Buy at Estate Sales
7 Things I Always Buy at Estate Sales

Here’s what an experienced estate sale shopper always buys.

5 Keys to Making Your Car Last for 200,000 Miles
5 Keys to Making Your Car Last for 200,000 Miles

Pushing your car to 200,000 miles — and beyond — can save you stashes of cash. Here’s how to get there.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Comments

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.