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From airfare to lumber, many products still seeing major price hikes in 2021

Posted at 7:41 AM, May 05, 2021
and last updated 2021-05-05 07:41:41-04

If you thought items were expensive last year, 2021 is turning out to be pricey in its own right.

This year, filling up the car costs about twice what it did last year, as gas hits $3 per gallon in many areas, and $4 per gallon in California.

Related: Rehabbers, home buyers slammed by soaring lumber prices

But, Business Insider said get your wallet ready, as many other things are costing even more.

With Americans spending stimulus checks, starting home improvement projects and traveling again, there's been a spike in a variety of items.

Home prices are up 20%, lumber prices have doubled due to soaring demand, airfare is up and rental car prices are spiking with daily rates costing more than $200 a day in some vacation spots.

Grocery items are jumping in price, too. P&G and Kimberly Clark have both announced price increases on diapers and many paper products, like paper towels.

Business Insider says Coke and coffee are up as well, and last year's price hikes on chick and pork never went down?

What it all means is that those pandemic price breaks, which everyone locked at home, are now just a memory.

With so much pent-up demand from last year, and so many products in short supply, don't expect a break any time soon.