Fact Check: Food prices in NYC surged 27.5% from FY 2019 to FY 2023.

Fact Check: "Food prices in NYC surged 27.5% from FY 2019 to FY 2023."

What We Know

The claim that food prices in New York City surged by 27.5% from FY 2019 to FY 2023 is a significant assertion that requires careful examination. According to a report from the New York State Office of the State Comptroller, food price indices for main components, including both food at home and food away from home, grew more than 20% between 2019 and 2024 (source-1). This suggests a notable increase in food prices, but it does not explicitly confirm the 27.5% figure for the specified period.

Additionally, the New York City Comptroller's Monthly Economic and Fiscal Outlook indicates that inflation rates in the city have been above the national average, with core inflation running at 4.2% locally over the past year (source-3). However, these reports do not provide a direct percentage increase for food prices specifically from FY 2019 to FY 2023.

Analysis

The claim of a 27.5% increase in food prices is significant and appears to be based on broader trends in inflation and food pricing. The data from the Office of the State Comptroller indicates that food prices have indeed risen substantially, but the specific figure of 27.5% is not directly supported by the available data. The 20% increase noted in the report spans a slightly different time frame (2019 to 2024) and includes both food at home and food away from home, which may not align perfectly with the claim.

Moreover, the reliability of the sources must be considered. The New York State Office of the State Comptroller is a credible source, providing official economic data and analysis. However, the specific claim lacks a direct citation from a comprehensive dataset that isolates food prices over the exact fiscal years mentioned. The absence of a clear, corroborating source for the 27.5% figure raises questions about its accuracy.

Conclusion

Needs Research. The claim that food prices in NYC surged by 27.5% from FY 2019 to FY 2023 lacks sufficient supporting evidence from credible sources. While there is data indicating a significant increase in food prices, the specific percentage cited cannot be verified with the available information. Further investigation into more detailed economic reports or datasets would be necessary to confirm or refute this claim accurately.

Sources

1. The Cost of Living in New York City: Food
2. New York by the Numbers - Monthly Economic and Fiscal Outlook
3. New York by the Numbers Monthly Economic and Fiscal Outlook
4. Food Price Outlook - Summary Findings
5. FY 2025 Annual report on New York State Tax Expenditures
6. New York State Economic and Revenue Report
7. Consumer Price Index, New York-Newark-Jersey City