Tuesday, December 28, 2010

NYC Price Inflation Watch

Parking meter prices controlled by the city of New York aren't exactly free market prices, but the city still can't raise meter rates at will. They have to pay some attention to demand, which means it is always interesting when the city thinks it can get away with rate hikes.

On January 3, 2011, NYC will begin to change some meter rates.

In Manhattan south of 86th Street, where passenger and commercial parking rates at muni-meters are $2.50 per hour, rates will increase to $3 per hour.

Throughout the City, where passenger parking rates at metered locations are 25¢ for 20 minutes, rates will increase to 25¢ for 15 minutes.(Mark this second change as a stealth price hike--not changing the price but changing the quantity supplied)

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