Increased costs for wheat, sugar, gas combined with lower wages will cause ‘tsunami’ of living costs
Environment • February 2011 • Views: 643
Fresh financial pain is on the way, with price hikes expected on everything from underwear to cereal.
City merchants say they’ve held the line during the economic downturn, but now, because of the increased cost of cotton, wheat and other commodities, price increases are inevitable on almost everything we use.
“It’s like a tsunami - when it happens, it hits you later,” said Ricardo Rezk, owner of empanada maker Rico M. Panada in Mott Haven, the Bronx. “The warning siren has sounded.”
Consider: