Dept. of Labor finds cost of living in the Bronx, city rising unusually fast
Bronx and city residents who find the cost of living is getting more expensive are not alone.
According to the Bureau of Labor Statistics, the Bronx and city haven?t seen such a high inflation rate in approximately 15 years. The bureau also found that the local inflation rate is outpacing the nationwide inflation rate. The New York Times reports average rents rose 5.6 percent in the last year in the city, where as rent prices nationwide only increased 3.3 percent.
Meanwhile, the bureau reports that consumer prices increased 4.8 percent in the city, which is .8 percent higher than the nationwide average. Consumer prices are based on the prices of food, clothing, shelter, fuel and other goods and services.
Related Information:Bureau of Labor Statistics