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Prices: What’s Up – What’s Down?

Inflation has dominated the news for the past year. These are a few of things that will cost more in 2024:

Frozen Veggies – An actual labor shortage in that field (perhaps triggered by our obsession with finding and deporting illegal immigrants) has led to higher wages for those who ick our crops. That, in turn, has led to higher prices at the grocery checkout.

Admission to Live Events – Higher salaries for sports stars as well as strong demand for tickets (not to mention a virtual monopoly on ticket-selling) have all contributed to a steep rise in the prices for admission to sporting events and concerts.

Food from Vending Machines – Never a bargain, increased labor costs have led these already pricey items (compared to buying at the grocery store) to move even higher.

There are some bright spots, however. Here are a few of the things that are cheaper this year:

Eggs – Down over 22% from last year’s high. The avian flu that created egg scarcity is over and prices have come back down on this food staple.

Health Insurance – This one is a bit tricky. While premiums are up, insurers are also paying out more on health claims. The result is most of us are getting more bang for our buck. With our out-of-pocket expenses for health going down, it’s an overall win in the health insurance market.

Smartphones – Another tricky statistics. Overall, the sticker price of phones has ticked up slightly, but those phones do more and more service providers are also offering specials on the phones when you subscribe to their service, so the end result is that you should end up paying less for your phone.

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