New Yorkers struggle with a 24% increase in breakfast ingredients

You can’t make an omelette without breaking the bank.

The most important meal of the day has become one of the most expensive – as prices of common breakfast items such as eggs, butter, milk, coffee and bacon rose a total of 24% over last year’s costs, according to new government data.

The breakfast price hike is making it hard for New Yorkers to feel the impact of a slight slowdown in inflation announced on Tuesday — and infuriating local consumers.

“I do not know what to do. I don’t know what to buy. Everything is so expensive,” said Valerie Barkley, 71, of Fort Greene while grocery shopping in Brooklyn on Tuesday.

“It affects me, but what should I do? You can’t do anything.”

At the Stop and Shop where Barkely shopped, prices ranged from $4.49 to $8.29 for a dozen eggs — which are up 49% nationally from last year, according to the latest figures from the U.S. Bureau of Labor Statistics. consumer price index.

Barkley’s stomach also turned over the price of butter, which is up 34% nationwide from a year earlier, according to new government statistics.

Breakfast staples have risen 24% in price for New Yorkers over the past year.
Breakfast staples have risen 24% in price for New Yorkers over the past year.
Matthew McDermott

“Over here, this brand [of butter] It used to be $3.95. I don’t understand what happened. It’s terrible. They’ve gone mad,” she said.

At Harlem’s Food Universe, a 60-year-old woman named Marie said the price hikes were so bad she had to cut back on household supplies to afford groceries.

“I sit at home, don’t turn on the heat, put on extra clothes, sit in the dark, things that don’t need to be plugged in are unplugged,” she said.

“Let’s say for breakfast I wanted to buy French toast, eggs and ham, it used to be $7, it’s almost $20 now.”

On Manhattan’s Upper West Side, Harlem natives Deneshia McIntosh, 38, and her friend Marsha Robinson, 36, shopped at Trader Joe’s and compared prices.

“There were things we wanted to buy today that we put on hold because the price was just outrageous, eggs in particular,” McIntosh said.

“I was at another store in Yonkers the other day and the price for a middle dozen white eggs was 5.69 cents. For white eggs. Not even brown.”

Yvonne Daley, a 60-year-old retired legal secretary from Crown Heights, told the Post she cut corners when browsing the shelves at Stop and Shop.

“I cut out the bacon. I used to get sliced ​​salmon to eat with my bagel, I don’t do that anymore,” Daley said.

“I don’t eat fish. It’s super expensive. i love salmon It’s good fat for your body, but I can’t afford it, so I don’t buy it.”

As ingredient prices soared, so did New Yorkers, who start their day with the classic city breakfast of a bodega bacon and egg and cheese sandwich.

Inflation has caused some restaurants in the city to raise prices on popular dishes like bacon and eggs.
Inflation has caused some restaurants in the city to raise prices on popular dishes like bacon and eggs.
Matthew McDermott

Three Fort Greene delis all charged $5 for a BEC on a roll, a significant increase from the $3 and change the sandwiches cost until recently.

Employees at Roll & X Deli & Grill on Fulton Street said they raised the price again two months ago.

“Before it was $4. Now it’s $5. Bacon went up, eggs went up and cheese went up,” said Eddie, a delicatessen worker.

The deli once paid $48 for 30 dozen boxes of eggs. Now they’re paying $110, which he described as “the lowest.” [price] find you right now.”

A cup of Joe for breakfast also put a dent in New Yorkers’ pockets. A pound of ground roast coffee was $4.82 a year ago compared to $6.36 today, and bodega owners had no choice but to pass the increase on to customers.

“They always complain,” Eddie said of his clients. “Even if you increase it by 50 cents, the customer always complains.”

The complaints came as investors celebrated a slowing inflation rate on Tuesday, which had risen just 0.1% over the past month, according to the CPI.

Prices rose 7.1% from the same month a year ago, but the increase was less than the 7.3% rise economists had been expecting.

Jacob Channel, senior economist at LendingTree, explained that a variety of factors influenced breakfast costs, including ongoing supply chain issues, inclement weather in places where the food is made, and the war in Ukraine, which is one of the world wars large grain producers.

Another potential problem is corporate greed and opportunism, the economist told the Post over the phone Tuesday, confirming Marie’s suspicions of Harlem.

“Food companies are also reporting record profits, and I think it might be argued that they’re probably raising prices a little more than they need to, just because consumers have shown they’re willing to accept price increases,” said Channel, 28.

According to the latest figures, inflation eased slightly to 7.1% in November.
According to the latest figures, inflation eased slightly to 7.1% in November.
Matthew McDermott

There was hope, however, that New Yorkers could bring some more bacon to the breakfast table.

“I think there’s hope that things will change,” Channel added.

“As the broader picture of inflation starts to moderate, I think what we’re going to find is that people are less likely to accept significant price hikes.

“And certainly demand is already falling across the board, in part because of what the Federal Reserve is doing in raising interest rates.”

Inflation had already fallen from its June peak of 9.1% and President Biden celebrated the two-point drop on Tuesday while warning that a return to normal interest rates of around 2% “will take time” and that it will “Could be setbacks along the way”. .”

Opera singer Roberto DiPelesi, 69, sang an upbeat tune while stocking up on groceries at Trader Joe’s on the Upper West Side.

“I love to cook because I come from a family of chefs, so I prepare everything myself. And I generally don’t buy processed stuff. It’s obviously cheaper than buying ready meals, but it’s definitely gone up. But it’s going uphill, not just recently, it’s been going uphill for five or six years,” said DiPelesi.

“Whatever we’re experiencing here in this country, it’s much worse elsewhere and people are most likely making a lot less money,” he continued.

“I think it will level off eventually, but it will take time.”

https://nypost.com/2022/12/13/new-yorkers-grapple-with-24-increase-in-breakfast-ingredients/ New Yorkers struggle with a 24% increase in breakfast ingredients

JACLYN DIAZ

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