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Consumers to Pay More with Rising Cost of Commodities

Photo Courtesy - Getty Images(NEW YORK) -- A trip to McDonald's, a late-night cable movie and latte will cost you a little more money this year. The price of commodities is going up, and the prices of some of your favorite things are rising to the top along with them.

"Companies are already anticipating raising prices in spring and fall because there is a lag time," said Al Ferrara, partner at professional services firm BDO USA, LLP. "It takes three to nine months for those cost increases to be felt in the marketplace."

"You will see increases but they don't happen overnight because of the lag time it takes to get products into the hands of consumers," Ferrara said.

Cell phone plans, cable prices, XBox Live Gold, coffee, McDonald's, gas prices and Netflix are among the companies and items that have already been affected by price hikes.

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