Cost of Living In NYC About to Get Even Higher
Fresh financial pain is on the way, with price hikes expected on everything from underwear to cereal.
City merchants say they’ve held the line during the economic downturn, but now, because of the increased cost of cotton, wheat and other commodities, price increases are inevitable on almost everything we use.
“It’s like a tsunami – when it happens, it hits you later,” said Ricardo Rezk, owner of empanada maker Rico M. Panada in Mott Haven, the Bronx. “The warning siren has sounded.”
Consider:
– Global wheat prices more than doubled from June to January, the World Bank says. Corn and sugar prices rose 73%. Experts say that means the price of cereals, sugary drinks and other foods have nowhere to go but up.
“[It] is a perfect storm. Food prices are going up at precisely the time when people have less money to buy food,” said Joel Berg of the New York City Coalition Against Hunger, who predicted that rising prices will drive more New Yorkers to food pantries and soup kitchens.
– Gasoline prices are soaring as New Yorkers struggle to pay higher bus and subway fares. Gas costs an average $3.46 for a gallon of regular in the city, up from $2.91 a year ago, AAA New York says.
“I can see gas going to $4 a gallon,” said Dino Lombardi, 44, an accountant who often buys gas at the Hell’s Kitchen Hess station, where it’s $3.49 a gallon.
– Cotton futures have risen 44% since Jan. 1, so clothing is getting more expensive. Underwear maker Hanesbrands warned it will mark up prices throughout the year – and for some products, every three months.
Pain will come from all over.
As local food suppliers mark up products, owners of the city’s 1,000 food manufacturing and processing businesses and nearly 19,000 restaurants will feel pressure to charge customers more.
Rezk, 46, is bracing for an increase in the cost of flour.
“I will have to think of more ways to cut costs,” said the Murray Hill resident.
He’s already taken money-saving measures like getting rid of the water-cooled compressors in his freezers. City water-rate increases made them expensive to use.
“When food prices go up, I’ll have to get a second job,” said Ramon Nunez, 55.
“My rent’s gone up – it’s a priority,” said the nursing-home cook from Washington Heights.
New Yorkers are also burdened with higher bills for MetroCards, utilities and health insurance.
“My salary was not raised, but my MetroCard went up,” said Tatiana Nenova, 31, of Flushing, Queens. Her $104 monthly card costs 17% more than last year.
“If the service was better, I wouldn’t mind,” she said.
Kraft, which makes Oreo cookies, Wheat Thins snack crackers and Oscar Mayer wieners, has raised prices on more than half its North American products – and plans more increases.
Esther Peralta, 60, of Inwood, used to eat salmon or tuna once a week, but cut back to once a month.
“I will stop buying products when they get too expensive,” said Peralta, who lives on disability payments. “It’s getting too expensive to live in New York City. This place is for the rich.”
CHUTZPA!!!!!
IT IS A BIG CHUTZPA WHAT IS HAPPENING TO US!!! WHY ARE FOOD PRICES RISEING ON US ?? WHAT WAS WRONG WITH LAST YEARS PRICES ?? WHAT CHANGED NOW THAT THEY ARE RAISING PRICES ON US ?? (NOTHING CHANGED)!!!!!!! I GUESS IT MEANS THAT WE WILL HAVE TO NOW START GETTING MORE MONEY ON FOOD STAMPS EVERY MONTH!!! EVERYTHING GOES UP BUT THE PAYCHECK !!!! DO THEY WANT TO “KILL” US BY RAISING PRICES THAT WE WON’T BE ABLE TO BUY ANY MORE FOOD TO LIVE AND THEN WE WILL ALL “DIE” ???
CHUTZPA #2
YOU WROTE: “ DRINKS AND OTHER FOODS HAVE NOWHERE TO GO BUT UP”, IT IS NOT TRUE, IT HAS WHERE TO GO: DOWN!!!!!! WHY ONLY UP ? WHY NOT DOWN ?? THEY WILL RAISE ALL THE PRICES ON EVERYTHING AND NO ONE WILL BUY ANYTHING BECAUSE IT IS TOO EXPENSIVE AND THEN THEY LOSE ALL THEIR BUSSINESS ALLTOGETHER!!! GAS PRICES ARE SOARING AND METROCARD PRICES ARE GOING UP, FOR WHAT ? FOR NO REASON AT ALL !!! THE HIGHER PRICES GO UP, THE WORSE EVERYTHING GETS. !!!!!!
go-d-s right hand man
well the real estate pig is your real enemy, so if your paying to much or more than you can personally afford MOVE to somewhere more affordable for someone of your means
A GOOD QUESTION IS WHY ARE THERE SO MANY PRODUCTS THAt are similar to each other
for example tide, all, arm and hammer, clorox, purex,
Outraged!
You guys are getting it all wrong, The prices for the subway are gonna be 4 dollars per a ride, and this is not a fairy tale.
Before you know it just to buy a pound of apples it will be 3.99 per a pound which it already is, how are people gonna have the Ample of supply of food for themselves? and you are wrong if you think that they will give you more money for food stamps, they are not giving you no more money on food stamps it is staying the way it is, they might even lower the money that they give you on the food stamps, People wake up, if the prices go sky high, then there is gonna be a revolution .
CHUTZPA # 3
WHEN IS THE NEXT TIME THEY WILL WANT TO RAISE ALL THE PRICES ON EVERYTHING ?? BECAUSE THE GOVERNMENT IS SO MESSED UP THAT MEANS THAT WE HAVE TO SUFFER ?? THEY SHOULD START WAKING UP AND FIXING AND DOING THINGS THE RIGHT WAY AND START CARING ABOUT US. LET US ALL SEND THE WHOLE GOVERNMENT FLYING OUT OF HERE (JUST LIKE THEY DID IN EGYPT) AND LET US GET NEWER AND BETTER GOVERNMENT !!!! DO THEY WANT US TO GO ROB A BANK TO GET $$$ IN ORDER FOR US TO BUY FOOD SO WE COULD LIVE AND NOT DIE ??? (I THINK THAT IS THE ONLY WAY THAT WE WILL BE ABLE TO GET $$$). HOW MUCH MORE WILL PRICES RISE ??? HOW HI COULD THE PRICES RISE ALREADY ??? WHEN WILL THEY STOP RAISING THE PRICES ??? THIS IS CHUTZPA!!!!!
TO # 4
THEY HAVE TO GIVE US MORE $$ ON FOOD STAMPS IF THEY RAISE THE PRICES ON FOOD, SO LET THEM ALSO RAISE THE AMOUNT OF $$ ON FOOD STAMPS, (A RAISE FOR A RAISE, THEY RAISE THE PRICES ON FOOD, LET THEM ALSO RAISE THE AMOUNT OF $$ THEY GIVE ON FOOD STAMPS, IT IS ONLY FAIR)!!! PLEASE DON’T GIVE THE MTA ANY IDEAS OF RAISING THE PRICE TO 4$ PER RIDE, THE MTA PRICES AND SERVICE IS ALREADY VERY BAD AS IT IS. !!!!!! IT IS A VERY BIG CHUTZPA !!!!!
chutzpa
thank G-d for food stamps
Shneur Mendelson
The simple facts:
Over the past 100 years the cost of goods has been steadily rising irrespective of economic turmoil (due to the Federal Reserve Act [of 1913] causing unrestricted inflation, the opposite having occurred beforehand in the 1800s etc). While income has risen over this period, it has dropped significantly relative to the cost of goods. (People are making less money relative to how much things cost.) The same is happening for those on government assistance.
This systematic trend is continuing relentlessly!
In addition, considering the advent of technology, there are additional goods and services the average household needs to properly function today, that it didn’t needed in the past.
ONE change has taken place to balance this relentless trend:
Households adjusted to reliance on TWO incomes as a rule!
This emergency reserve (if you will) is expended!
We are now about to reach our boiling point!
To be continued…?
chutzpa7
yah, what do u all care, the gov’t pays for most of your food anyway. Way to bite the hand that feeds you.
Normal
Wow, whoever it is that keeps typing in caps shouting about a revolution and how food stamps should go up clearly has no education (hence needing to be on food stamps). There is no conspiracy here, it is the simple macroeconomics principle of supply and demand, and I don’t think it is very fair to increase food stamps, essentially raising taxes, to pay for someone else that had too many kids, living in too expensive an area, with a bad education.
ce
well we learned a plan from our friend. She said when money gets tight, she makes the inexpensive foods in the nicest ways she can…..such as cabbage with sauces, rice, vegetables and left over chicken with sauce, and more. It can be done!
Who Seed Watt
Can’t Congress repeal the law of Supply and Demand?
NORMAL
wow u guys r getting so hyped up… by us these prices are normal we pay around $8 per a chocolate bar!!!