Cost of Living in New York City Rises Most Since 2013: Chart
Annual cost of living in New York City rose 2.1 percent in December from 2015
(Bloomberg) -- The sting of smaller Wall Street bonuses will feel even worse as the annual cost of living in the New York City area rose 2.1 percent in December from the same month in 2015, the biggest advance in almost four years, according to data released Wednesday by the Bureau of Labor Statistics. Some of the biggest increases were in the costs of dining out, housing, medical care and energy. Businesses may be finding room to raise prices as an improving economy has pushed the employment-to-population ratio to the highest level since records started in 1993.
To contact the reporter on this story: Alex Tanzi in Washington at atanzi@bloomberg.net.
To contact the editors responsible for this story: Marco Babic at mbabic@bloomberg.net, Vince Golle, Sophie Caronello