Things To Get Costlier In The New Year 2022

The inflationary pressure is mounting with November WPI coming in at over 10 year high and its impact is likely to be felt more imminently in the new year going ahead. So, likewise as we usher in the new era be prepared to spend a little more on daily use items as well as luxurious goods.

Things To Get Costlier In The New Year 2022

So, here are the items that shall be dearer going ahead.

Food items:

For your everyday food items purchases ranging from coffee to snacks you will be charged a higher amount in the new year. So, this said nothing will come cheaper now including bread, packaged foods, beverages etc. There can be a hike by a marginal say 5 percent which shall be a high sum to bear for the masses.

The price increase is mainly fuelled by higher labour, freight, fuel cost etc. and is not to be the highest in decades.

Within the food category, there shall be a higher cost that you would need to bear even for the hard drinks especially those that are imported.

Vehicles to get costlier:

Many of the automakers citing higher input cost shall increase the cost of vehicles in the new year. Hero Motocorp, Kawasaki and other brands even in the four wheeler have already planned price hikes in January this year including the like Maruti Suzuki, Tata Motors etc.

Clothes, footwear also to become expensive:

The GST rate on the listed items will increase to 12 percent and hence a higher price will be charged to end consumers.

GST on food being ordered through aggregators:

Though the collection of tax responsibility is being just transferred from the hotel to the aggregator, there can be even a case of higher charges for a consumer. As per experts, the end consumer may see nil impact in a case if the restaurant happens to be a registered entity.

What will be cheaper?

In a much needed relief, however, edible oil makers as per a report have slashed edible oil rate by 10-15 percent. There are expectations the new year will bring in relief with international rates coming down and a better crop.

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