Deep Dive: High prices impacting bottom line of New York families
In this week's Deep Dive, News 12's Kristie Reeter is looking at rising costs in all categories, from alcohol to car sales.
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Jan 28, 2022, 11:52 AM
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Updated 1,058 days ago
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4ds agoYou feel it daily, rising costs.
In this week's Deep Dive, News 12's Kristie Reeter is
looking at rising costs in all categories, from alcohol to car sales.
Are higher prices changing how you grocery shop? In a poll,
a majority of News 12 viewers on Long Island, Westchester and New York City
said they are shopping in different stores to get better deals.
Caleb Silver, of Investopedia, says that looking at the
categories with the fastest rise of prices, used cars and trucks are up 3.7%,
utility and gas to heat your home is up 3.5%, dairy products are up 2.6%, and
new and used vehicles are up 1.7%.
How are these prices impacting the bottom line of New York
families?
"It is starting to hurt, especially low income families
and we have very high unemployment, especially around the NYC area. The Census
Bureau's household survey reports that 31.8% of New York responders to the
survey said they are having trouble, or a lot of trouble paying household
bills, and that is up from just three months ago and up from a year ago,"
says Silver.
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