According to a report titled “The Cost of Living in New York City: Food” released by New York State Comptroller Thomas DiNapoli, the cost of food expenditures in New York City has skyrocketed by 56.2% over the past decade, significantly higher than the national average increase of 46.4%. This surge in food costs has disproportionately burdened low-income families.
The report reveals that the average annual food expenditure for households in the New York City metropolitan area has jumped from $7,225 in the 2012-2013 fiscal year to $11,288 in the 2022-2023 fiscal year, representing a steep increase of 56.2%. Various factors such as disruptions in the global supply chain during the pandemic have led to the largest price hike in the food price index in 2022. Events like the Russia-Ukraine conflict and avian flu have contributed to a 9.9% increase in the national food price index and an 8.8% surge in New York City, marking the highest level in 40 years.
Moreover, citing data from Syracuse University’s “New York Consumer Confidence Index” for the fourth quarter of 2024, the report highlights that a staggering 81% of New Yorkers are concerned about the rising food prices. A 2025 public opinion survey also found that 86% of New Yorkers feel that their income has not kept pace with the rising cost of food, with 53% of respondents reporting an increase in debts over the past 12 months due to food price hikes.
The report also indicates that from 2019 to 2024, the price index for major food items (including groceries and dining out) in the New York City metropolitan area and the entire state of New York has risen by over 20%. Currently, approximately one-ninth of families in New York City are facing food shortages, with the Bronx experiencing the most severe food insecurity at 20.2% in 2022; Staten Island has the lowest rate at 11.5%. As of 2023, around 744,508 households are receiving Supplemental Nutrition Assistance Program (SNAP) benefits, accounting for 21.9% of all households in the city.
The impact of rising food prices is particularly severe for low-income families. Data shows that in the 2022-2023 fiscal year, households earning less than $15,000 annually allocated nearly 70% of their income to food expenses, marking a 16-percentage-point increase over four years. In contrast, households earning $200,000 or more saw only a 0.7-percentage-point increase in the share of food expenses.
Due to the sharp increase in food costs, a study in 2024 found that 77% of consumers have noticed the increasingly common phenomenon of “shrinkflation.” This term refers to food companies reducing the quantity or size of products while keeping prices constant in order to offset the pressure of rising costs.