{"id":965748,"date":"2026-07-29T01:30:21","date_gmt":"2026-07-29T01:30:21","guid":{"rendered":"https:\/\/www.europesays.com\/us\/965748\/"},"modified":"2026-07-29T01:30:21","modified_gmt":"2026-07-29T01:30:21","slug":"mamdani-unveils-simple-fix-for-nycs-cost-of-living-crisis-sell-groceries-30-cheaper-at-city-run-stores-will-it-work","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/965748\/","title":{"rendered":"Mamdani unveils simple fix for NYC\u2019s cost-of-living crisis: sell groceries 30% cheaper at city-run stores. Will it work?"},"content":{"rendered":"

\"Mayor<\/a> Spencer Platt\/ Getty Images <\/p>\n

Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. <\/p>\n

New York City Mayor Zohran Mamdani has unveiled a remarkably straightforward solution to soaring grocery bills: sell food for less. <\/p>\n

“Today, I am proud to announce a collection of essential staples that will be predictably 30% cheaper at all five of our city-run grocery stores,” Mamdani said (1) at a news conference Monday. <\/p>\n

Must Read <\/p>\n

The discounted basket will include all fresh produce, meat and seafood, along with roughly 20 additional categories of essential goods, including eggs, milk, cheese and bread. <\/p>\n

Prices will also remain fixed throughout the month rather than fluctuating from week to week. <\/p>\n

“Once a month, our five city-run grocery stores will set prices for this core set of goods at 30% below typical retail prices. No exceptions, no gimmicks,” Mamdani said. <\/p>\n

“The savings will last for the entire month. That means no weekly fluctuations or sticker shock at the checkout line.” <\/p>\n

And the discount will be available to everyone, regardless of income. <\/p>\n

City officials estimate that the program could reduce the average shopper’s total grocery bill by approximately 15%, saving around $90 a month or roughly $1,000 a year. <\/p>\n

That could provide meaningful relief in a city where food costs have become another major source of financial pressure. Grocery prices nationwide have risen 33% since 2019, according to the mayor’s office. <\/p>\n

The city has allocated $70 million in capital funding to develop the five locations, with one planned for each borough. <\/p>\n

The first grocery store is expected to open at the Peninsula development in Hunts Point in the Bronx by the end of 2027. Another is planned for La Marqueta in East Harlem, while locations in Brooklyn, Queens and Staten Island have yet to be announced. All five are expected to open by 2029. <\/p>\n

‘A big slap in the face’ <\/p>\n

A 30% discount on essential groceries could be a welcome development in a city known for its high cost of living. But critics argue that making food cheaper is not as simple as changing the number on the price tag. <\/p>\n

Antonio Pena, president of the National Supermarket Association, which represents 450 stores in New York City, argued that Mamdani’s plan would hurt local grocers. <\/p>\n

“To have the city decide to open a store in the same neighborhood in which our members are operating at already low margins \u2014 because running a store in the city is very expensive, extremely expensive \u2014 we feel that it’s a big slap in the face to us,” Pena said (2). <\/p>\n

Frank Garcia, chairman of the Multicultural Business Coalition, was even more blunt. He warned (3) that the city’s discounts would “put our businesses out of business,” asking, “How are you going to compete with that?” <\/p>\n

The controversy also points to a much broader problem: Americans are paying significantly more for everyday necessities after years of persistent inflation. <\/p>\n

Even though headline inflation has cooled from its 2022 peak, prices have not returned to where they were. They are simply rising at a slower pace, leaving households to absorb the cumulative damage already done to their purchasing power. <\/p>\n

And while the Mamdani administration highlighted the 33% increase in grocery prices since 2019, the blunt reality is that inflation has been eroding the value of the dollar for decades \u2014 and across nearly every category of spending. <\/p>\n

According to the Federal Reserve Bank of Minneapolis (4), $100 in 2026 has the same purchasing power as just $11.74 did in 1970. <\/p>\n

That’s right. $100 became less than $12. <\/p>\n

This can help explain why relief is so difficult to deliver. Governments might be able to subsidize certain products or services, but they cannot easily reverse decades of rising costs across food, housing, energy, utilities and other essentials \u2014 even with Mamdani’s grocery store policy. <\/p>\n

That’s also why Americans are looking beyond cash and traditional savings when thinking about how to protect their purchasing power. <\/p>\n

Here’s a look at three time-tested strategies. <\/p>\n

Read More: <\/strong>Millionaires under 43 hold only 25% of their wealth in stocks. Here’s where their money is actually going<\/strong><\/a> <\/p>\n

Own something the Fed can’t print <\/p>\n

When it comes to preserving wealth and fighting inflation, few assets have stood the test of time quite like gold. <\/p>\n

Its appeal is simple: unlike fiat currencies, the yellow metal can’t be printed at will by central banks. This inherently limited supply can help it store value. <\/p>\n

Gold is also considered the ultimate safe haven. It’s not tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it \u2014 driving prices higher. <\/p>\n

Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, has repeatedly highlighted gold’s role in a resilient portfolio. <\/p>\n

“People don’t have, typically, an adequate amount of gold in their portfolio,” Dalio told CNBC<\/a> last year. “When bad times come, gold is a very effective diversifier.” <\/p>\n

Over the past five years, as inflation continued to chip away at the purchasing power of the dollar, gold has climbed 122% as of late July (5). <\/p>\n

Other prominent voices see further potential. JPMorgan CEO Jamie Dimon has said<\/a> that in this environment, gold can “easily” rise to $10,000 an ounce. <\/p>\n

One way to invest in gold that can also provide significant tax advantages is to open a gold IRA with the help of Goldco<\/a>. <\/p>\n

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold<\/a>, making it a compelling potential option for those wanting to ensure their retirement funds are diversified during rough economic times. <\/p>\n

Goldco offers free shipping and access to a library of retirement resources. Plus, the company will match up to 10% of qualified purchases in free silver<\/a>. <\/p>\n

If you’re curious whether this is the right investment to diversify your portfolio, you can download your free gold and silver information guide today<\/a>. Just keep in mind that gold is usually best deployed as one part of an otherwise well-diversified portfolio. <\/p>\n

An income-producing inflation shield <\/p>\n

Gold isn’t the only asset investors turn to during inflationary times. Real estate has also proven to be a powerful hedge. <\/p>\n

When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that adjusts for inflation. <\/p>\n

Over the past ten years, the S&P Cotality Case-Shiller U.S. National Home Price NSA Index (6) has jumped by 88%, reflecting strong demand and limited housing supply. <\/p>\n

Of course, high home prices can make buying a home more challenging, especially with mortgage rates still elevated. And being a landlord isn’t exactly hands-off work \u2014 managing tenants, maintenance and repairs can quickly eat into your time (and returns). <\/p>\n

The good news? You don’t need to buy a property outright \u2014 or deal with leaky faucets \u2014 to invest in real estate today. Crowdfunding platforms like mogul<\/a> offer an easier way to get exposure to this income-generating asset class. <\/p>\n

As a real estate investment platform offering fractional ownership in blue-chip rental properties<\/a>, mogul gives investors monthly rental income, real-time appreciation and tax benefits \u2014 without the need for a hefty down payment or 3 a.m. tenant calls. <\/p>\n

Founded by former Goldman Sachs real estate investors<\/a>, the team hand-picks the top 1% of single-family rental homes nationwide<\/a> for you. In other words, you gain access to institutional-quality offerings for a fraction of the usual cost. <\/p>\n

Each property undergoes a rigorous vetting process, requiring a minimum 12% return even in downside scenarios. Across the board, the platform features an average annual IRR of 18.8%. Offerings often sell out in under three hours<\/a>, with investments typically ranging between $15,000 and $40,000 per property. <\/p>\n

Sign up for an account and browse available properties here<\/a> to start investing today. <\/p>\n

Another option is Lightstone DIRECT<\/a>, which gives accredited investors access to single-asset multifamily and industrial deals. <\/p>\n

Lightstone DIRECT’s direct-to-investor model<\/a> ensures a high degree of alignment between individual investors and a vertically integrated, institutional owner-operator \u2014 a sophisticated and streamlined option for individual investors looking to diversify into private-market real estate. <\/p>\n

With Lightstone DIRECT, accredited individuals can access the same multifamily and industrial assets<\/a> Lightstone pursues with its own capital, with minimum investments starting at $100,000. <\/p>\n

Diversify beyond Wall Street <\/p>\n

Prominent investors like Dalio often stress the importance of diversification \u2014 and for good reason. Many traditional assets tend to move in tandem, especially during periods of market stress. <\/p>\n

That message feels especially relevant today. Nearly 40% of the S&P 500’s weight is concentrated in its ten largest stocks, and the index’s CAPE ratio hasn’t been this high since the dot-com boom. <\/p>\n

This is where, for many investors, alternative assets come into play. These can include everything from real estate and precious metals to private equity and collectibles. <\/p>\n

But there’s one store of value that routinely flies under the radar: It’s scarce by design, coveted worldwide and frequently locked away by institutions. <\/p>\n

We’re talking about post-war and contemporary art \u2014 a category that has outpaced the S&P 500 with low correlation since 1995. <\/p>\n

It’s easy to see why art pieces often fetch new highs at auctions: The supply of the best works of art is limited, and many of the most desirable pieces have already been snatched up by museums and collectors. That scarcity can also make art an attractive option for investors looking to diversify and preserve wealth during periods of high inflation. <\/p>\n

Until recently, purchasing art has been a domain reserved for the ultra-wealthy \u2014 like in 2022 when a collection of art owned by the late Microsoft co-founder Paul Allen sold for $1.5 billion at Christie’s New York (7), making it the most valuable collection in auction history. <\/p>\n

Now, Masterworks \u2014 a platform for investing in shares of blue-chip artwork<\/a> by renowned artists, including Pablo Picasso, Jean-Michel Basquiat and Banksy \u2014 can help you get started with this asset class. It’s easy to use and, with 31 successful exits to date, Masterworks has distributed more than $65 million in total proceeds (including principal). <\/p>\n

Simply browse their impressive portfolio of paintings<\/a> and choose how many shares you’d like to buy. Masterworks then handles all the details<\/a>, making high-end art investments both accessible and effortless. <\/p>\n

New offerings have sold out in minutes, but you can skip their waitlist here<\/a>. <\/p>\n

Note that past performance is not indicative of future returns. Investing involves risk. See Reg A disclosures at http:\/\/masterworks.com\/cd<\/a>. <\/p>\n

You May Also Like <\/p>\n

Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first \u2014 clear insights curated and delivered weekly. Subscribe now<\/strong><\/a>. <\/p>\n

Article Sources <\/p>\n

We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines<\/a>. <\/p>\n

City of New York (1<\/a>); Gothamist (2<\/a>); The New York Times (3<\/a>); Federal Reserve Bank of Minneapolis (4<\/a>); Gold Price (5<\/a>); S&P Global (6<\/a>); Christie’s (7<\/a>) <\/p>\n

This article provides information only and should not be construed as advice. It is provided without warranty of any kind. <\/p>\n","protected":false},"excerpt":{"rendered":"Spencer Platt\/ Getty Images Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the…\n","protected":false},"author":3,"featured_media":965749,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[388024,64,79,148641,388025,57330,49313,159265,388026,383580,67,132,68,5301],"class_list":["post-965748","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-antonio-pena","tag-business","tag-economy","tag-gold-ira","tag-grocery-bill","tag-grocery-prices","tag-grocery-stores","tag-purchasing-power","tag-savvy-investors","tag-tax-advantages","tag-united-states","tag-unitedstates","tag-us","tag-zohran-mamdani"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/117000682172278355","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/965748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=965748"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/965748\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/965749"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=965748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=965748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=965748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}