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Inflation in the U.S. hit 7% for 2021, the U.S. Bureau of Labor Statistics reported this morning, while in the New York-Newark-Jersey City geographic area it was lower for the year, at 4.4%.
The fuel oil price increased almost 60% and many local homes are heated by oil.
In the New York metropolitan area, the Consumer Price Index for All Urban Consumers rose only 4.3% since October of last year, compared to 6.2% nationally, according to the BLS.
“I’m telling restaurateurs that their job is still survival,” Connecticut Restaurant Association President and CEO Scott Dolch says. “The next six months are going to be critical."
Cynthia Merkle thinks 2022 “is going to be a difficult year. We really have to watch our expenses.”
Prince insisted the fiscal policies of a half-century ago are not being repeated today.