Web Exclusive: 2014 brings higher prices on necessities, other items

Web Exclusive: 2014 brings higher prices on necessities, other items

(CNN) - We're six days in 2014 and while you may be getting used to writing that new year on your checks and email, there may be a part of you that wishes it was still 2013.  That's because experts say the new year will bring some higher prices for many of the things we rely on every day and we have a look at where more of your money may be going.

CNN Money compiled a list of things that are expected to cost more this year.  Some of them will cost a few pennies more, like when the price of a first class stamp goes up from 46 cents to 49 cents later this month.  It's the largest increase in years.  One way to put off the pinch is to stock up on Forever Stamps before the price increase January 26th.

Some food could cost more.  December honey prices were up seven percent from the beginning of 2013.  Here's another blow to your sweet tooth.  Experts predict bad weather in cocoa producing countries could mean chocolate prices could jump three percent this year, especially if you're eating dark chocolate.

Staying home could also impact your bottom line.  A market research firm predicts apartment rents will go up more than three percent this year and home prices could jump almost five percent, while mortgage rates have risen one percent from the same time last year.  Though mortgage rates at 4.5% are still historically pretty low, that extra one percent translates to real money, almost 60-dollars more a month for every $100,000 dollars you borrow for a 30-year fixed rate mortgage.

     But here's one bright spot for your budget -- CNN money reports that the average price for a gallon of regular gas last year was three dollars and 49 cents -- cheaper than in 2012 or 2011, and experts predict even lower prices this year.


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