As President Joe Biden assures that his administration will mobilize all resources to bring the supply chain up to speed with the distribution of products, New Yorkers (like the entire country) face the enormous challenge of seeing how prices continue to rise. prices of products and services, which had already been affected by the lack of staff and other problems created by the covid-19 pandemic. While that works out, prepare to see a price hike in these industries.
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Eating out is more expensive
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After months of confinement due to the pandemic, New York, New Jersey, Connecticut … the entire country is ready to go out to eat, but faces the surprise that any culinary experience, no matter how basic, has gone up in price.
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Hakan Swahn, owner of Aquavit, the two-Michelin-star restaurant, told The New York Post that the cost of some products has increased by 15 percent in recent months, which is reflected in the prices that customers pay at the Midtown East restaurant. Ciro Casella, co-owner of San Matteo Pizzeria on the Upper East Side, also reported that some items needed to run his restaurant (pizza boxes and tomatoes) are now 30 percent more expensive.
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According to Business Insider, restaurants have had the biggest price hike in the last 40 years. From Chipotle, McDonald’s and other chains reflect these prices in the increase in the price of their food. The largest price increases have been 10% at Taco Bell, 8% at McDonald’s and 8% at Dunkin‘ Donuts, followed by Chipotle and The Cheesecake Factory.
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Gasoline prices keep rising
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This week New Yorkers saw gas prices hit $ 5 a gallon in most New York counties, though in Manhattan some gas stations reported prices as high as $ 5.40 . This, because the prices of the have soared more than 42% compared to last year, reporting record prices.
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In New Jersey, prices have risen more than $ 1 per gallon in the last year. AAA Mid-Atlantic reported that the average price of a gallon of regular gasoline in that state on Friday was $ 3.25, three cents more than a week ago. Drivers paid an average of $ 2.28 per gallon a year ago.
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Pennsylvania has also seen similar increases, in that state motorists are paying $ 3.40, almost a dollar more expensive than last year around this time.
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With fuel, electricity prices are also rising, which reported, in September, an increase of 0.8% in the country and which, in New York, was more than that. The 22.6 cents per kWh that area households paid for electricity in August 2021 was almost 57% more than the national average of 14.4 cents per kWh.
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Electronic products
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Also the prices of electronic products and household appliances have risen in New York, as in the entire United States. According to a CNBC report, several major electronics and appliance suppliers have suspended operations at their factories in China, so it is likely that The entire electronics industry, which is already recovering from the great shortage of chips, also increases its prices.
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Per Hong, a senior partner at the consulting firm Kearney, told that outlet that, although the production of these products is likely to normalize in the long term, for the moment these products are expected to rise in price, something that only inflation will worsen in the Christmas season.
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