SAN ANTONIO — There are some key things that will be more expensive in 2023. We're outlining those, and telling you ways to save.
Food will still feel like it costs a fortune. Expect to pay about 4% more for food, said the U.S. Department of Agriculture (USDA).
“Food is just one of those really weird areas where some products are going to increase in price and others are going to, if not decrease, at least remain kind of stable,” said Julie Ramhold, a consumer analyst with Dealnews.com.
Save by buying non-perishables in bulk. Plus, purchase seasonal, frozen or canned fruits and veggies. Buy staples like beans, rice and pasta. Use those basic and affordable ingredients to make a variety of meals.
No relief for renters in 2023. Realtor.com predicted rent prices to increase about 6% nationwide.
“It can be really hard to find an affordable place to live. Even if you’re living in these really affordable areas, you’re probably going to see your rent increase by a noticeable amount,” Ramhold said. “It’s not necessarily going to be like a tiny increase where you’re like, 'Okay, that’s just what they do year-to-year.'”
Save by negotiating your rent increase with your landlord, getting a roommate or downsizing your space. You may be able to offer services around your property in change for a discount on rent. See these other tips for savings on rent.
Postage prices will jump. A forever stamp will cost 3 cents more. You will pay $.63 a stamp starting January 22, 2023.
“It doesn’t sound like much," Ramhold said. “If you only buy a couple of stamps a year, you’re probably not going to notice, but if you need postage on a regular basis, then you’re going to notice those prices creeping up.”
Save by stocking up on stamps now. Or save a stamp by signing up for automatic withdrawals for monthly bill payments.
Eating out will also be a pretty penny. Expect to spend 5% more, said the USDA.
“It’s kind of a two-fold issue,” Ramhold said. “It’s the price of food in general, but it’s also them trying to recoup some of those losses that they had during the pandemic.”
Save by dining out for lunch instead of dinner, skip ordering alcohol at a restaurant, and join loyalty programs for discounts and freebies.
The supply chain
Also, expect to continue to see supply chain issues this year.
“They’ve eased over the course of 2022, but they’re here to stay,” Ramhold said. “For some factories, those interruptions basically just have caused a domino effect and they might not ever be able to actually catch up, which means we could potentially see supply chain issues at any point.”
Other items increasing in 2023
Also increasing in 2023 is the cost of some streaming services, the price of a Costco membership, and tickets to Disney World.
There is some good news.
We will not likely see prices rising as quickly this year.