Rising costs take a toll on Long Islanders as inflation reaches 3‑year peak
Inflation has surged to 4.2%, marking it the highest level seen in three years. For many Long Islanders, the rising costs of everything are taking a toll.
Inflation has surged to 4.2%, marking it the highest level seen in three years.
For many Long Islanders, the rising costs of everything are taking a toll.
"We're surviving," Plainview resident Ron Labrocca said. "I have two cars that need premium fuel, so that's another added expense."
Experts say these high prices could last through the summer.
"Rising oil prices have driven up the price of just about everything that consumers pay for and we're feeling it whether we're at the grocery store or booking travel tickets for the summer, or we're just trying to plan a family outing," said Caleb Silver, chief business editor at People Inc.
Silver said inflation has been putting intense pressure on Long Islanders, causing people to cut back on travel and other activities.
"Diesel fuel and diesel prices are up over 40%," Silver said. "Fruit and vegetable prices are about 10 to 15% higher than they were last year and coffee prices are anywhere from 15 to 25% higher."
Some stores like Stop & Shop lowered prices at all of their 46 Long Island stores.
As News 12 reported, lines are getting longer at Costco Wholesale gas stations because of prices.
But despite gas prices going down a bit, some say they're feeling the effects of it all.
"I go with my I go with my wife food shopping once a week, and I see the differences dramatically," Plainview resident Howard Schultz said.
Experts say there are ways you can save while prices are high.
"This is a good time to lean on coupons, and this is a good time to lean on maximizing your loyalty with whatever programs you belong to," Silver said.
