NEW YORK (MainStreet) — Your New Year’s resolution may be to save more and spend less, but sticking to that goal could be harder than you think, with several price hikes on common items announced just this week. MainStreet rounds up five things that will cost you more in 2012 so you can budget accordingly.
Your morning latte. Starbucks (Stock Quote:SBUX) kicked off the new year by raising the prices on certain products in the Northeast and Sunbelt areas of the U.S. by an average of about 1% in response to the rising cost of ingredients, though the company gave few specifics on which items were included in the price increases. Those looking to avoid the increase might have to switch to a more boring beverage, as a spokesperson for the company pointed out that Starbucks’ grande brewed coffee is not affected by the price hike.
A tank of gas. Pump prices rose 3 cents on Thursday to a national average of $3.32 per gallon, the highest ever for this time of year, according to an Associated Press report.
A Grand Slam breakfast. Popular breakfast chain Denny’s (Stock Quote: DENN) told Bloomberg earlier this week that it will raise menu prices this year due to rising costs of commodities, though no specific date has been set for the increase.
Lottery tickets. Starting Jan. 15, lottery lovers will have to pay $1 more for Powerball tickets, sold in 42 states. Organizers announced on Tuesday the price of a ticket for the popular game was going up to $2 in an attempt to entice people to play for bigger jackpots with better odds.
Postage stamps. The end of January will also bring a price increase from the U.S. Postal Service, which announced in October that the cost of stamps would go up by a penny to 45 cents. The increase is an attempt to alleviate persistent revenue problems.
How can you offset these rising costs in your budget? MainStreet’s got some suggestions in its roundup of 12 things you should stop paying for in 2012.