What will be more expensive in 2015? Chocolate, bourbon and bacon lead the way
(Dec. 18, 2014) – If there’s any guarantee in life, it’s that prices go up.
So what should you expect to pay more for in 2015?
DealNews.com looked through the trends to find a list of items that will cost you a little extra cash next year. In many cases, you can thank droughts and increased demand.
Topping the list is bourbon. Here’s what the website has to say about it:
Some think the impending bourbon shortage announced by Buffalo Trace earlier this year is nothing but a marketing ploy to drive up prices and demand, but a spokesperson for the company recently told Business Insider that the shortage is “very real.” Within the last five years, sales of domestic bourbon have increased 36%, and while there’s no minimum aging time for bourbon, most are aged for at least two years or longer. (Buffalo Trace, for example, ages its whiskey for 4 to 23 years.) Not predicting the craft cocktail- and hipster-fueled popularity, some bourbon distilleries are rationing their bottles for the first time since the end of Prohibition — and, of course, raising their prices.
You’ll also pay more for chocolate:
Well, this is just getting depressing. Top chocolate manufacturers have warned of a cocoa shortage, a disaster that Stephen Colbert predicts will be heralded by “the 3 Musketeers of the apocalypse.” Ebola-stricken countries produce only 0.7% of the world’s cocoa, so the main culprit is a West African drought — as well as increasing worldwide demand for chocolate. Chocolate prices have already been rising, particularly in the case of small artisanal chocolate makers who use quality ingredients and often more cocoa for dark chocolate.
If prices of sweet treats don’t increase, it’s not necessarily luck. Some confection experts predict that candy makers will use less chocolate and more of other ingredients — nuts and raisins, for example — to keep costs down, while others will use cheaper ingredients, like palm oil. Even the Easter Bunny is expected to fill baskets with smaller chocolate eggs this year.
Just as alarmingly, look for rising prices for beef and pork—a trend that will also include bacon:
Remember the bacon shortage panic of 2012? While those reports were exaggerated, the price of bacon has increased, hitting an all-time high in 2014. It’s not entirely the fault of hipsters and foodies. (Though they’re almost certainly drinking all the bourbon.) Aside from increased demand, a pig-killing virus and higher feed costs have been causing the bacon and pork price hike. Higher feed prices are also affecting beef prices. In fact, Chipotle has even reported that customers are opting for chicken instead of steak after the chain’s menu prices changed to reflect the rising beef costs. Beef and pork prices will continue to increase in 2015.
Here’s the rest of the list:
- Air Travel
- FedEx and UPS Fees
- Olive Oil
- Some Sports Cars
- Redbox Rentals
- Girl Scout Cookies
- Health Care