Impressive price hikes are forcing New Yorkers to cut spending, and even go into debt, amid inflation rates that peaked at 40 on Friday.
The latest monthly figures from the U.S. Bureau of Labor Statistics show that the average price of all consumer goods rose 8.6% in the 12 months ending May.
This is the highest increase since 1981, before most Americans were born, and is leaving many people everyday with a surprise while buying groceries, gas or a new home.
‘It’s crazy’
Upper West Side resident Natasha Samus left her weekly trip to Zabar’s iconic gourmet deli on Friday after spending at least 10 percent more than a year ago.
“Three hundred dollars for two bags of food, and I didn’t even buy meat,” the Manhattan woman said.
“I just got dairy, vegetables, sausages, jam, bread and fish.”
Samus, 55, said the same things “used to cost $ 100, $ 150.
“It’s crazy,” he said.
“I don’t buy so much food anymore because it’s too expensive.”
Samus also said he would take his transportation home on foot because a taxi ride from the Broadway and West 80th Street store would cost too much.
Natasha Samus says she no longer buys as much food as she used to because of the high prices. Robert Miller
Meanwhile, Samus said he had hoped to change his apartment for one with more natural light, until he learned of current rental prices.
“My one-bedroom apartment costs $ 3,000 a month. Another one-bedroom apartment in the same apartment building now costs $ 4,800,” he said.
“I can’t move. Rental prices are too expensive.”
‘I never go out’
Patrick Legros said food and gas prices are making him spend more than he charges. Robert Miller
Security alarm installer Patrick Legros, 62, said that even with a steady job, he has been left behind in mortgage payments on his three-bedroom home in the suburbs of Pomona, New York.
“I spend more than I earn. Food and gas are the worst, that’s where my salary goes,” he said as he worked at West 79th Street in Manhattan.
“It only cost me $ 103 to fill up with gas and my tank wasn’t even empty. Gas costs $ 5 a gallon where I live.”
Legros said he has started eating more fast food and admitted that “it’s not healthy, but it’s all I can afford.”
“And I never go out for lunch or a drink with friends, so my social life has suffered,” he added.
“It’s a shame to spend so much”
Lauren Capone said she spent $ 120 on breakfast with her husband and baby. Robert Miller
Lauren Capone made a double take on Thursday when the bill came for breakfast with her husband and one-year-old daughter Luella at Sarabeth’s Restaurant on Amsterdam Avenue in Manhattan.
“We had orange juice and tea, a children’s meal, I had egg whites and my husband had French toast. And it was $ 120, “he said.
“It’s a shame to spend so much on breakfast.”
The expensive meal “made me think about where we eat out, what kind of food we get, and how much we order,” said Capone, 31, as he pushed his child into the swings at Riverside Park.
Meanwhile, the monthly rent for the family’s Upper West Side apartment has just skyrocketed to $ 400, and “groceries are definitely getting more and more expensive,” Capone said.
“I buy at Whole Foods to get good food for my daughter, but it’s getting harder and harder for me,” she said.
“I definitely notice there is more money on credit cards and there aren’t that many funds to pay them off in full.”
“The price … hurts a lot”
Andrea and Adam Molina say they visit family less because of inflation. Robert Miller
Rising travel costs reduce family reunions for future parents Andrea and Adam Molina, both 34, of Jersey City, NJ.
“We used to go to see my sister in Baltimore once every two months, but now it’s more like once every four months,” Andrea said.
“The price of renting a car and filling it with gas has become unaffordable.”
And the cost of public transportation is not much better, Andrea said.
“Even the train has become much more expensive,” he said.
“It’s almost $ 300 on the weekend just to get back and forth.”
Adam, who joined his wife on a trip to see his obstetrician in Manhattan, said the couple “has been successful in groceries, which have become noticeably more expensive.
“The price per pound of meat hurts a lot,” he said.
“In fact, the cost of living, especially food and laundry services, is rising even faster than inflation.”