Famous New York City pizza chain raises dollar slice prices to $1.50, citing inflation
2 Bros. Pizza is one of many New York City pizzerias increasing their prices
Inflation is still strong: Dan Niles
Satori Fund founder Dan Niles provides insight on recent banking issues and combating inflation on 'Maria Bartiromo's Wall Street.'
An iconic New York City pizza joint has raised its $1 pizza slice prices this week, as the cost of food continue to climb amid rampant inflation.
2 Bros. Pizza in East Village increased their cheese pizza slice to $1.50 each – a 50 cent increase.
The chain, which has locations in all of New York City's five boroughs, will implement the new price at all of their stores.
The business also raised the price of their meal special – two cheese slices and a can of soda – to $4, which marks a one dollar increase.
DOMINO'S IS ELECTRIFYING DELIVERIES WITH HUNDREDS OF CHEVROLET BOLTS
A group of "Bros" eat dollar pizza at 2 Bros. pizza in New York on Sunday, March 20, 2016. (Richard Levine/Corbis via Getty Images)
2 Bros. Pizza owner Eli Halal told FOX 5 New York that he did everything he could to preserve the original $1 price, but every ingredient needed for pizza has become more expensive.
Other New York City pizzerias offer dollar slices, but they are becoming fewer and far between. Many have raised their prices to $1.25 or $1.50 per slice.
DOMINO'S LAUNCHES AN 'INFLATION RELIEF DEAL' NATIONWIDE
A couple eating pizza at 2 Bros Pizza. (Jeffrey Greenberg/Universal Images Group via Getty Images / Getty Images)
"Dollar slices" refer to cheap, mass-produced pizza slices in New York that can be found at modest storefronts with limited menus, usually without seating.
Despite inflation slowing down in February, it remains three times higher than the pre-pandemic average at 6%. The price of food has increased by 10.2% on an annual basis, according to last month's Consumer Price Index (CPI) report.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
People eat at a 99 cent pizza place in the West Village on Christmas Day on December 25, 2021 in New York City. Due to rising food costs 'dollar slice' pizza places are raising their prices. (Getty Images)
Fox Business reached out to 2 Bros. Pizza for a statement but has not heard back.