In the New Year, consumers will be faced with higher grocery bills, lower mortgage rates and cheaper gas. Here are a few predictions consumers can expect in 2013:

Anticipated Price Hikes:

• Grocery bills: The U.S. Department of Agriculture predicts grocery bills will rise 3-4 percent in 2013, due to higher feed costs.
   
• Overdraft fees:  Banks are looking for ways to raise revenue without inciting customer backlash, meaning higher overdraft fees and charges for using out-of-network ATMs.
   
• Luxury items: Smartphones, cars and other luxury goods will also be more expensive in the New Year.
   
• Copper: Prices on copper could rise, causing a ripple effect because it’s used in several consumer products like wire, pots, residential water pipes and industrial equipment to brew beer.

Bright Side:

• New regulations on debt collectors: As of January 2nd, the Consumer Financial Protection Bureau will regulate the country’s large debt collectors, an industry widely criticized for harassment, deception and other illegal tactics to get people to pay.
   
• Good news for home buyers: Mortgage rates are expected to remain low in 2013.
   
• Gas: Gas prices should continue their slow decline. The average is expected to be $3.43 per gallon, which is down from 2012’s average of $3.63.

Read more: Today