Businesses take a hit from rising milk pricesPosted: Updated:
Bronx supermarkets, bodegas and diners say they are taking a huge financial hit from the rising price of milk.
Managers at the Crosstown Diner say they have been forced to cut back on the drink because of the cost but also because of the cost of refrigeration.
According to the New York State Department of Agriculture, the average price of a half-gallon in city area markets jumped from $1.47 in 2000, up to $2.33 in 2007. The agency says the price average in 2010 was at about $2.06. Adjusted for inflation that is an 11 percent hike.
Currently, the average price for a gallon of milk is $3.67, leaving customers and businesses with no choice but to cut back in other areas of their budget.