March 2, 2007

Milk prices in New York climbing faster than gas in 2007
 

Consumers in New York are going to have to dig a lot deeper to satisfy their thirst for a nice cold glass of milk.

The New York state Department of Agriculture has approved another 11-cent price hike for milk that takes effect Thursday.

That brings the average cost to about US$3.25 per gallon in the New York City area.

Increases of 20 cents were announced back in December, which brought milk prices up 31 cents so far for 2007.

Consumers should be aware that experts are also warning that milk prices could go as high as four bucks per gallon by the summer because of increased demand for ice cream and cheese.

It is not yet clear whether other dairy products will be affected by the increases milk prices, however, prices for dairy products, such as ice cream, have shown steady increases in recent years.

Meanwhile, though gas prices have been climbing steadily in recent weeks, it is far from the same percentage as milk prices have jumped.