Sky-High Rents and Labor Costs Force NYC Restaurant to Charge $16 for BLT
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Restaurant owner charges $16 for a BLT due to high costs of rent ($20k/month) and labor ($60k/month)
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Ingredients for the BLT cost about $5, but other expenses cut into profits
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Labor costs have risen 30% despite employing 13% fewer people
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Sales have dropped 15% since pandemic but rent keeps increasing every year
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Even if overall inflation falls, restaurant prices won't decrease - damage is already done