May 31, 2007 4:13 pm US/Central
Forget Gas: Ice Cream Prices Are On The Rise
ncreased Costs Of Milk, Sugar, Gas Lead To Spike
NEW YORK (CBS) ―
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We all really could be screaming for ice cream, with prices on the rise this summer.
CBS
Just when you thought the rising prices at the pumps were a major pain this spring and summer, now the cost of one of our favorite summer treats is also on the rise.
We all scream for ice cream as temperatures heat up come summer, but it turns out it could be the price of ice cream that could be making you scream this year. With the cost of milk on the rise, vendors say they are now taking their licks.
"Not just the milk prices have been going up, but the sugar prices have been increased as well over the last year, so that's been hurting our industry tremendously," said Christina Seid, co-owner of the Chinatown Ice Cream Factory.
Milk prices worldwide are rising at the fastest rate ever, experts say, due to growing demand in developing countries and dwindling government supplies. Small businesses that rely on milk are struggling as a result. Seid buys about 1,000 gallons of milk each summer month to make her homemade recipe. She says costs have increased about 10 percent.
Managers at larger stores say the price of ice cream has already gone up about 5 percent and it's not just because of the milk. Trucking and fuel expenses have increased as well.
Still, ice cream loyalists say cost is no obstacle to getting their creamy fix. "I don't think the price of ice cream will affect me," said ice cream lover Brian Jung. "I'll still be getting ice cream here, even years from now. I really enjoy ice cream."
For others though, the hike may mean it's time to cut back on the sweet treat. "I wouldn't pay for it if it went up more," said Eric Smith, another ice cream lover. How much would Smith pay for a scoop? "$3.50 or $3.25. This is probably the most I've paid for ice cream."
Milk prices at U.S. stores have increased roughly a dime per gallon this year, according to the Department of Agriculture.
(© MMVII, CBS Broadcasting Inc. All Rights Reserved.)
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