If you’re planning to change your tires, now might be a good time to do it. Reports from CNN and the Financial Times say that the price of tires is set to rise next year. This follows a 65% jump in the price of natural rubber in the past year. The rubber price has tripled in two years.
Tire companies including major suppliers Bridgestone, Continental, Goodyear, and Michelin have already raised prices by 5 to 15% this year. Continental reportedly will increase prices by 5% from the start of next year.
The material price will also affect other rubber products such as gloves and condoms—so you might want to stock up on those, too.
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