With a monthly inflation rate of 3.5%, US consumers are saying goodbye to many of their usual purchases. Rising prices are reshaping buying decisions, from everyday indulgences like streaming services and fast food to essential items like groceries.
Food Delivery
Ordering food delivery has become more expensive. Meals have gone up to $60-$70 from $30-$50. Delivery charges and extra fees associated with third-party delivery services like Uber Eats and DoorDash further inflate menu prices.
Meat
Meat, especially different cuts of beef, is costly in today’s market. The current prices range from $10.06 to $22.69 per pound. The prices have risen significantly in the last two decades. The beef prices could rise by 30% in 2024, making it impossible for households to include it in their daily meals.
Concert and Sporting Events
Attending live concerts and sporting events is becoming increasingly uneconomic. Average concert ticket prices have increased by 34% since 2018. Meanwhile, prices for sporting events have jumped by 25.1% in the last year. Plus, additional fees for tickets, parking, and concessions add up to the overall prices for these events.
Grocery
Daily essentials like milk and eggs have gone up because of inflation. Milk gallons that used to cost $2 are now $3.95 whereas egg prices changed from $1.69 to $3.45. Even frozen pizzas have shot up from $3.50 to $5.25, almost making them more expensive than fresh pizzas.
Menstrual Products
The average prices of menstrual products like pads and tampons nearly increased by 10% in the last year. The pandemic led to a short supply of materials like cotton and plastic, impacting the rise of these products. This has increased the switch to menstrual cups that are both reusable and more comfortable.
Subscriptions
Nowadays, you need subscriptions for almost everything. Whether it is streaming services or software apps, monthly subscription charges can quickly add up to a hefty price. In many cases, you download a mobile app only to get stonewalled by a subscription page. Cable TV subscriptions are also becoming notoriously pricey. This is leading to the cancellation or discontinuation of many subscriptions.
Yoga and Gym Memberships
Staying healthy comes at a cost so much that it is becoming unaffordable. Yoga and gym memberships have risen in the last few decades. Due to this, many individuals are becoming more inclined to digital fitness instead of paying huge membership fees.
Salons
From hair to nail salons, the increase in service prices is making it difficult to maintain regular grooming routines for many people. Services like eyebrow waxing, pedicures, and acrylic refilling used to cost $40 a month rose to $60. Moreover, some salons are adopting hourly pricing, and charging more for basic services. This is leading to affordability being increasingly out of reach.
Fast Food
Fast food used to be the convenient choice for a cheap and quick meal. Meals from fast food joints now rival the cost of dining out, despite offering smaller portions and questionable quality. Major fast-food restaurants have raised prices by 60% on average between 2014 and 2024. As these prices soar, it’s no wonder more people are opting out of choosing fast food for home-cooked meals.
Cereals
Many individuals are choosing not to purchase cereals where even the small boxes cost $7. The price is further predicted to increase by 1.3% in 2024, making it more cost-prohibitive. That’s why people are choosing cheaper store-brand alternatives instead of branded cereals.
Thrifting
In the past, thrift stores and garage sales were known for their affordable prices and quality materials. But now, thrift shopping has become costly with the price hikes. In many instances, garage sales are resembling online listings like eBay in terms of costliness.
Pets
Pet ownership is becoming more costly with each day. The average cost of owning a cat or dog ranges from $700 to $1000 depending on the size and breed. Separate expenses like pet insurance and daycare expenses can add up to this. Moreover, vet care costs, emergency visits, and hospitalizations can easily rack up the bills in the thousands; if not tens of thousands.
Health Insurance
Health insurance premiums have become exorbitant. With a 4% price increase in 2024, the healthcare costs have become $584 on average. The cost is further expected to rise between 6% to 6.4%. Health insurances include high premiums, deductibles, and out-of-pocket expenses. Even healthy families can find themselves spending a small fortune on healthcare.
Airbnb
Airbnb used to be known for its affordable prices compared to hotels. It has seen its rates soar because of extra charges with an average of 36%. Because of this, staying in hotels can be more affordable in some cases.
New Car
Buying a basic car seems impossible because of the price surge. The era of reasonably priced new vehicles is now a thing of the past. Moreover, as cars are depreciating assets, people are choosing to use public vehicles instead of private cars.
Beverages
From a can of soda to coffee, the steep rise in prices has made it difficult to enjoy different beverages. Three 12 packs of soda used to cost $11 which increased to $15. The average price of beer increased 3% last year. Even during the supply shortfalls, beverage prices continue to rise.
Theme Parks
Most theme parks these days come with additional charges. Many require you to pay an extra $200 to skip the lines or $80 for slightly closer parking. The current ticket prices at Disney World are already over $100. They have announced an increase in ticket prices from 2025, leading to an increase of $10 per person.
Camping and Road Trips
Camping sites used to be affordable, with basic sites for around $18 a night. But, now you could end up paying that much at a subpar state park campground with restrictions on dogs, alcohol, and fires. On the other hand, road trips require a significant amount of traveling. This could lead to $500 in gas, making it a super-costly trip.
