The Rising Cost of Goods
With commodities on the rise, consumers can expect to see prices increase at their local retailers. Cotton prices have doubled over the past year, and as a result, clothing prices are expected to jump 10 percent. Likewise, the USDA recently told consumers to expect grocery and restaurant prices to rise two or three percent this year. Gas prices in most areas of the country are higher than they were this time last year and are expected to continue to climb throughout the summer months.
Inflation is a concern for many people. Consumers are looking for advice on how best to manage their finances and lessen the impact of rising prices on their pocketbook.
Ameriprise financial advisors are available to discuss:
- What rising commodity prices really mean for consumers
- Ways people can adjust their household budget and reduce their spending
- How to prepare for changes in the future
- How securing lower interest rates can help consumers manage debt and cash flow