DWYM: Why is everything suddenly so expensive?

Posted at 3:39 PM, May 03, 2021
and last updated 2021-05-03 16:39:28-04

Are you starting to get the feeling that everything is more expensive in 2021?

Turns out you're not imagining things.

From gas to groceries it seems everything is going up in price this year.

And even if you are frugal like many, if you need to eat or drive, these price hikes will impact you.

Welcome to 2021, where filling up the car now costs twice what you paid last summer.

Gas is now hitting $3 in many areas, $4 in California.

Insider says get your wallet ready for more.

With Americans spending those stimulus checks, they are starting home improvement projects and traveling again.

  • Home prices are up 20% this year.
  • Lumber prices have doubled, due to soaring demand.
  • Air fares are up, with last year's $39 flight long gone.
  • And rental car prices are spiking, with daily rates soaring to $200 a day in some vacation spots.

And from the "doesn't that stink file."

All the grocery items jumping in price.

P&G and Kimberly Clark both have announced price increases on diapers, and many paper products like paper towels.

Business Insider says coke and coffee are up, too.

And last year's price hikes on chicken and pork never went down - and that stinks.

What it all means is that those pandemic price breaks -- with everyone locked at home -- are now just a memory.

With so much pent-up demand from last year - and so many products in short supply - don't expect a break anytime soon.

So be careful, so you don't waste your money.