If You Thought Prices were High in 2010, Just Wait
As if American's don't have enough to worry about when it comes to money. Get ready to shell out even more in 2011 for basic things.
#1.) Groceries. The Department of Agriculture predicts a two to three percent increase in the cost of all food in 2011, mainly because the prices of corn and soybeans are going up.
--But food prices went up by almost 6% in 2008, so we should probably consider ourselves lucky this year.
#2.) Clothing. The price of clothing has been going down for the last decade. But cotton is 80% more expensive than it was at the beginning of 2010. And some clothing brands are increasing their prices by as much as 10% in 2011.
#3.) College. This year, the tuition prices at four-year universities is up by almost 5% for private schools, and 8% for public schools. That's why a lot more people are going to community college first, then transferring.
#4.) Gas. The former president of Shell Oil recently predicted that gas will cost FIVE DOLLARS A GALLON by the end of the year, which is about $2 higher than the current national average. Let's hope he's wrong.
If you were considering buying a bicycle, you might want to because with gas at $5 a gallon that may be the cheapest way to go, unless you want to walk everywhere.