“How do you make money — with rising costs, and people being very careful how they spend, now?” asks Lou Smith, who owns the Blend on Main restaurant in Manasquan. He says, a crab cake that once cost diners $16 — now runs $22. His menu features Inflation specials — to draw in customers on weeknights. Inflation’s impacting everything, he says. “There’s not an item that hasn’t been touched. Payroll — everyone needs more because it costs more. So it’s really created this little monster.”
From groceries to gas — U.S. inflation averaged 8.5% for the year ending last March. Uncertain global oil supplies — rocked by the war in Ukraine — drove the steepest inflation spikes: more than 70% for fuel oil, 48% in gas prices.
Gov. Phil Murphy’s not keen to suspend the state gas tax, but might consider tax rebates, says NJ Spotlight News Budget & Finance Reporter John Reitmeyer. “Perhaps some of the surplus NJ is building up right now, could be dedicated to funding some sort of a one-time payment — maybe geared towards those in lower-income brackets that are really getting hit the hardest by inflation and higher gas prices.”
