The New York Times posited in the 1980s that because of inflation, the cost of a slice of pizza in New York will always be around the same price as a ride on the subway. But for the first time in 40 years, the so-called "pizza principle" has been broken. Increasing costs of supplies like utility gas, flour, and cheese — not to mention labor due to shortages — have driven the price of a cheese slice up to $3.14 on average, according to the app Slice. Cheddar News spoke to Vito's Slices and Ices co-owners John and Nick Accardi to learn why.

Cheddar's News Wrap

Why a Slice of Pizza in New York Costs More Than a Subway Ride

Welcome back a slice of new york pizza now costs more than a ride on new york subway according to Bloomberg. New york city metro fares have stayed steady at $2.75. But a plain slice of pizza has gone up to $3.14 for more on why pI prices are going sky high. We're now bringing in cheddar news, senior reporter Michelle castello. She is live at vito slices and dices in Manhattan. Michelle take it away. Thanks so much. JD I'm here with nick and john McCarthy there, the co owners of Vito's slices and itis is so, thanks so much for joining us, john. The cost of a slice of pizza in New York City is now in Manhattan averaging $3.26. Why have the price has gone up? Well, the price has gone up. Like everyone I think is aware the price of the cost of food in general has gone up quite a bit and it's still going up, uh, particularly the staples, flour, dairy products, that's the basis of our, what we do to make pizza. So all those costs have gone up, sauce has gone up. We use a lot of products that are imported as well. So there's another layer of cost that goes along with that. There's often delays in shipments as well that affects our costs for our availability. Aside from that, we have the cost of utilities have gone up. Gas, electric has gone up a lot paper products have become hard to get more expensive and, and of lesser quality actually too. So all these things. Price of labor has also gone up a bit since the whole coronavirus kind of shut down of sorts. So there's been all those factors that contribute to why prices in general go up. So the price of pizza needs to reflect those increases in costs. We try to hold off as much as possible so we don't, you know, give people sticker shock, but at a certain point, I think people realize that the cost of food that they buy for themselves has gone up and it's just, it's warranted that the price of a slice of pizza or pie would need to go up a little bit as well. So nick, I noticed you guys have a almost five star review on yelp your 4.7 on google reviews. Tell us a little bit more about the pizza business and how you guys got into it and what makes a good pizza. Okay, well, you know what? The family has been in the pizza business and making business going back five generations. So my grandmother's parents had a wood burning oven in Sicily that made bread now going down the generations. Now, john's sons are actually in different locations like eric, My Godson, his son is in Stella's Pizza on 9th Avenue and um, and 17th street, I own another place called Rocco's Pizza, that's been there for 28 years. Stella has been there for 27 years. I own another restaurant on the street here called Tabbouleh. Tabbouleh is a very different kind of pizza. It's a real Neopolitan pizza there, wood burning oven pizzas and they made my ovens were made in Naples, there were £7000 and they made a volcanic clay from Vesuvius volcano and it's all the craftsmanship and all the work that goes into it. It's not just the equipment, it's also the care that goes into it. And I guess it shows because you know, to have these stars after two years of being open. So it's pretty remarkable really and it's very flattering. So um That's our family history in the business and um as much as I've been now in business in Manhattan for 30 years. we're Brooklyn boys originally were KNickerbocker Avenue boys, you know, in the end, you know, and that's really where the really good pieces came from was in Manhattan, this could be hit or miss and once you get to Brooklyn and further out you have to be good at what you do and wanted to stay open. So we kind of adhere to the same uh standards and techniques and and and we buy the best we can. So john was saying it's it's difficult when you're buying these kind of products and were buying, we start with buying the best we could possibly buy and we try to get the best price, We don't try to get the best price, no matter how cheap the suffers if it's cheap, we don't buy it. If it's not good, we don't buy it. We want the best stuff. And we try to get the best price, the best prices going higher and higher and higher. And so now it has to reflect on the slice, it has to reflect on the plot on the part in order for us to survive because the price of labor has gone up considerably now and all these things as well. So it's it's challenging. And and the restaurant business most people understand is very challenging because we love it because we do it, we're in it. But it's it's not it's not the easiest. But unfortunately we're going to have to leave it there today. But thanks so much you guys, good luck. And I want to say thanks. So that is Nick and john McCarthy there, the co owners of Vito's slices and ISIS.