You don’t often hear about prices going down. But price analysts predict in 2016 you’ll be paying less for certain things. Still, it’s not all good news for your wallet. There are also some staples that will be going up.
The price tracker Dealnews says 2016 will be a good year for people who have a taste for fast cars, less sophisticated wines and coffee.
“That makes me happy. I might be at Starbucks more often, ” said Kavetta Anderson who loves a good cup of Joe.
Ideal growing conditions have lead to a coffee bean surplus, and the same goes for peanuts.
“I love peanuts from Virginia,” said Tom Adams. We learned he has very specific tastes, right down to the state.
“I buy my chocolate from a store up in NJ, so I hope their prices don’t go up,” said Adams.
Sorry Tom, a cocoa shortage means chocolate prices will likely rise in 2016. And the outlook for meat isn’t great, either, with a price hike of up to two and a half percent, according to the US Department of Agriculture.
“I enjoy like a NY strip, filet mignon, and I just don’t buy it when it’s expensive, I just make due, stick with fish,” said Adams.
That’s a good idea, since poultry prices could rise by 3.5%.
As for travel, AAA predicts gas prices will continue to drop until the springtime, which affects both driving and flying overseas. Anderson says she’ll enjoy it while it lasts.
“You know it’s kind of scary because if it can drop that quickly and that low, I wonder what it would take for it to be high again,” she said.
When it comes to mobile phones, Dealnews says 2016 is the year when budget smartphones are expected to go mainstream. That’s because many companies are phasing out their 2-year contracts, which makes the prices of these more transparent. So big names like Apple and Samsung are expected to offer cheaper phones.
The price of Fitness trackers are slimming down thanks to more competition. And the cost of certain luxury sports cars are down-gearing, too.
But milk, avocados and almonds are all on the rise.
Finally, high-end domestic wine prices are expected to jump as much as 10 percent. But the cheaper brands are slated to drop even lower. Cheers to that, and to a Happy New Year.
