News of high food prices on LI reaches Capitol Hill

As the U.S. Congress begins to tackle skyrocketing food prices, it heard from the owner of a Long Island bakery just how much the crisis is impacting small businesses and customers. Richard Reinwald,

News 12 Staff

May 1, 2008, 11:09 PM

Updated 5,918 days ago

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As the U.S. Congress begins to tackle skyrocketing food prices, it heard from the owner of a Long Island bakery just how much the crisis is impacting small businesses and customers.
Richard Reinwald, owner of Reinwald?s Bakery in Huntington, told federal lawmakers Thursday that since he's had to raise prices, his business is down 5 to 7 percent. He said such a drop can be the difference between staying in business and closing up shop for many.
With that in mind, shoppers on Long Island say they are doing whatever they can to save a little money. However, the price of bread has risen 15 percent, eggs are up 25 percent and rice is up 11 percent.
Analysts blame part of the problem on worldwide demand, but say gas prices are the prime culprit.
?The increase in food prices that has been going on for a period of time will continue unless we see an equilibrium in gas and oil prices,? Dowling College economist Marty Cantor says.
Some consumers say they're using coupons for the first time and that online coupons are gaining in popularity. However, experts advise checking supermarket policy to see which markets accept them.
Click for more on coupon cutting and ways to save at the market


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