Long Islanders fuming as inflation continues to hit prices everywhere

The prices for just about everything are continuing to go up, according to new numbers from the government.

News 12 Staff

May 11, 2022, 9:56 PM

Updated 705 days ago


The prices for just about everything are continuing to go up, according to new numbers from the government.
Inflation hit 8.3% in April, and even thought it has slowed from a 40-year-high, Long Islanders are still feeling a financial strain.
Americans are seeing the cost of gas go up 44%, airfare up 33%, milk up 15% and rent up 5%.
Flour and coffee are now 14% more expensive than a year ago.
Deb Schwartz, of Levittown, says ​everything on the shelf costs more.
"Strawberries, a ridiculous amount of money for strawberries," Schwartz says. "Just every single thing we picked up was more expensive that the last time we were here."
Some residents say they are cooking food at home that they can get more meals out of.
Home heating oil is also increasing with an average gallon on Long Island costing $5.50.
It costs only $3.16 a gallon in 2021.
Paul Somoza, of Smithtown, says he is not going to fill his oil tank this summer and hopes prices come back down later in the year.
"That price of heating oil, we have to downscale on everything--vacations, everything," Somoza says. "It's killing us."
Mortgage rates have also gone up, making the housing market even tougher.
"I think for buyers and sellers with inflation, rising prices, mortgage rates, it is creating a lot of uncertainty in the market," says Nick Orlando, a Long Island real estate expert.
Orlando believes on Long Island, home prices will increase throughout the year, but at a slower pace.
He says the catalyst is low supply and a lot of demand.
Orlando says some people have had to rent, instead of buy, or just stay put because they can't afford to move out.
David Harper, of Central Islip, says he is planning on leaving New York because of how high prices have gotten.
"I am pissed off, it just doesn't make any sense," Harper says.
Some like business owner, Bob Schreiber, say he spends $1,000 a week to fill his work trucks.
Gas prices hit another record of $4.66 on average across Long Island.
One resident says it's "really difficult" to find a gas station that has affordable prices anywhere on Long Island.
Martin Melkonian, associate professor of economics at Hofstra University, says inflation could still continue to rise.
"It means continuing pain, we haven't really solved the problem of inflation," Melkonian says. "In fact, there is a good chance it is going to be worse."
Inflation slowed a bit in April after seven months of relentless gains.

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