Prices naturally increase over time because of inflation, but the cost of certain products has climbed so much that they’re quickly becoming luxury items.
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You might not have previously thought too much about buying these seven items, but now you’ll be surprised to discover just how much they’ll impact your budget and your wallet.
Chocolate
If you have a sweet tooth and love chocolate, you’ll find that this treat is becoming more of a luxury. The price hike is due to a global cocoa shortage, reports CBS News.
According to Federal Reserve Bank of St. Louis data, the price of cocoa increased by 73% from June 2020 to June 2025. You once could save money by baking your own chocolate chip cookies, but with a bag of Nestle Toll House Baking Chocolate Chips costing $4.89 on its own at Target, buying cookies from the store is now the cheaper option.
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Granola
Granola has always been expensive, but its price has climbed significantly over the last few years, pushing it into the category of a luxury breakfast item. For example, KIND Oats & Honey Clusters Granola is $7.59 at Target, so it’s a pricey choice for a meal or snack. Cereal isn’t much more affordable, with a regular-size box of Quaker Oats Oatmeal Squares Brown Sugar Breakfast Cereal costing $5.19.
Smartphones
Smartphones have evolved from a means of communication to the equivalent of small computers outfitted with a range of apps and advanced technology. As they’ve evolved, their prices have increased.
Apple sells the iPhone 16 Pro for $799 and up, and prices can climb even higher if you need large amounts of storage. A new phone can be a hefty investment, especially when you consider that a 2021 study found that cell phones need to be replaced sooner than every two years, on average, as the phones become less durable.
Appliances
Household appliances are undergoing a transformation similar to smartphones. Common appliances like microwaves, electric ranges and refrigerators are no longer just for food preparation and storage. Now, many appliances are Wi-Fi enabled, can pair with apps and even incorporate touchscreens and an array of technology features right into their design.
As a result, prices are dramatically increasing, like the $3,398 price tag on the Samsung Bespoke Counter Depth 4-Door French Door Refrigerator (which is discounted from an original price of $4,799) at Home Depot.
Cutting Boards
The days of being able to buy plastic cutting boards for less than $10 are over. A 2023 study found that plastic cutting boards may be releasing significant amounts of microplastic into foods, suggesting the boards are no longer safe to use.
Switching to a wood cutting board can solve that problem, but you’ll pay substantially more. A 17-inch-by-13-inch-by-1-inch Walnut Wood Cutting Board costs $46.99, discounted from its original price of $59.99.
Real Wood Furniture
Furniture made of real, solid wood used to be the norm, but was eventually replaced by furniture made with particleboard. Particleboard is cheaper and lighter, and furniture prices dropped.
Now, solid wood furniture is at a premium. A 51-inch High Unfinished Solid Wood Pantry costs $394.70, plus you’ll have to budget for the stain or paint that you choose.
Streaming Services
Originally introduced as a cheaper alternative to cable TV and a way to “cut the cord,” streaming services have multiplied and their prices have increased, too. To watch your favorite shows, you now need three, four or even five different subscriptions.
While you can save money on bundling, these services can still be cost-prohibitive. YouTube TV’s base plan alone costs $82.99 per month. Add on a few other services and you can easily spend over $1,200 per year on streaming.
Editor’s note: Prices are accurate as of Oct. 1, 2025. Prices and availability may vary by location.
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This article originally appeared on GOBankingRates.com: 7 Everyday Products That Are Surprisingly Becoming Luxury Items
