Seven things that could cost you more in 2011 - KAIT Jonesboro, AR - Region 8 News, weather, sports

Seven things that could cost you more in 2011

By Brandi Hodges - bio | email

JONESBORO, AR (KAIT) -Whether it's the price at the pump or the cost of clothing what we pay is what we pay attention to!

"It's just too expensive!  Everything is expensive," said Priscilla Goodwin.

The cost of things we need in our everyday lives is on the rise.

"We're having a hard time making ends meet as is," said Tricia Henson.

The price we pay to get from here to there is one of the seven things that is on the rise this year!

"Gas is getting more ridiculous everyday it seems like its going up and down," said Goodwin.

"A lot of the expenditures they rise this time of year like gas is up and then gas will be down," said ASU Economics Professor Gary Latanich.

Latanich said there are many things that *are* up that will regulate throughout the year.

"There are scary items out there, little things but even the government separates out food and fuel because they're so volatile and it looks at the rest of the stuff," said Latanich.

The jump in the cost of food is something that most of us notice first.  However, Latanich said the inflation rate isn't higher this year compared to years past.

"Inflation has been less than two percent for the past couple decades it's probably not going to rise much above what it is now," said Latanich.

Other items that make the list include the price of health insurance and medical care, the cost of child care and bank and ATM fees.

"My guess is there are very few things that won't rise but most things are going to rise very small," said Latanich.

He said incomes will always be rising faster than inflation except for those who work for companies who have a freeze on raises or have lost their income.

"Last year prices rose by 1.2% and incomes rose by 2.4%," said Latanich.

The cost of going to college has been going up steadily for the past few years.  From tuition, to books and a place to stay college is costly!  This is one expense Latanich said we should think about differently!

"A college is going to get you a million more dollars over your lifetime why don't we think about financing it like a mortgage," said Latanich.

The cost of clothing is the seventh thing that is expected to rise in 2011.

Copyright 2011 KAIT. All rights reserved.

 

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