Iconic New York City pizza joint raises prices amid inflation

An iconic New York City pizza joint has increased its $1 pizza slice prices this week, as the cost of food continues to go up amid rampant inflation.

2 Bros. Pizza in East Village increased their cheese pizza slice to $1.50 each, a 50 cent increase.

The chain will implement a new price at all of their stores in all of New York City's five boroughs.

2 Bros. Pizza owner Eli Halal told FOX 5 New York 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 getting fewer and far between. Many of their prices have gone up to $1.25 or $1.50 per slice.

Dollar slices are cheap, mass-produced pizza slices in New York that can be found at modest storefronts with limited menus, usually without seating.

Despite the fact that inflation has fallen in February, it remains three times higher than the pre-pandemic average of 6%. According to Consumer Price Index CPI last month, the price of food has increased by 10.2% on an annual basis.

Fox Business reached out to 2 Bros. Pizza for a statement, but has not heard back.