COCONUT PRODUCTS
While the popularity of coconut products like coconut water, coconut milk, and coconut oil has increased, the number of Caribbean coconut plantations has decreased by 17% since 1994 because of drought, storms, and disease, according to the U.N.’s Food and Agriculture Organization. A recent Bloomberg article noted that coconut oil prices have already increased by 50% in the past year, and a impending coconut shortage will spike the prices of your favorite coconut products even more.
CAR INSURANCE
As low gas and a strong economy has more people driving, the likelihood of getting into an accident has also risen, pushing up the cost of auto insurance this year by nearly 10 percent. Those factors aren’t likely to change next year, which means insurance costs should continue to rise.
LOANS
Expectations that the Federal Reserve will finally resume raising interest rates, combined with an economic plan from President-elect Donald Trump that includes less regulation and lots of infrastructure spending, has economists at Deusche Bank projecting rate increases. Interest rates for short-term Treasuries shot up after Trump’s election, selling at their highest level in eight years.