Manhattan hot doggery Gray’s Papaya set to raise prices (again)

New York City hot dogs at Gray's Papaya

It’s murder, I say! Murder!

Well, I don’t say it … Gray’s Papaya does. The Manhattan hot dog institution is about to raise its prices once again. This will be the third price increase since I moved to the Upper West Side in 2004.

There’s a rather dramatic sign hanging in the window at Gray’s Papaya screaming, “MURDER!” It continues:

WE ARE GETTING KILLED BY THE GALLOPING INFLATION IN FOOD COSTS
UNLIKE POLITICIANS WE CANNOT RAISE OUR DEBT CEILING AND ARE FORCED TO RAISE OUR VERY REASONABLE PRICES
PLEASE DON’T HATE US

Okay, it’s hard to hate the folks who sell two hot dogs and a drink for a modest $4.50, though I was much happier when it was a dollar cheaper, back in 2008. Seven years ago, one hot dog cost only 85 cents. Then it skyrocketed, on a relative basis, to $1.25 in 2005, inching up to $1.50 three years ago.

%Gallery-126040%The deal, which still returns change for a $5 bill, is called the “Recession Special,” which took real meaning in 2008, as New York City suffered the shock of the financial crisis. Since then, as we have struggled toward a recovery that never really seems to come, the Gray’s Papaya Recession Special has been a fantastic alternative to … well, just about everything.

But, where will the prices go next?

It’s hard to say. The notice has been up for a few weeks, but I have yet to see any indication of price change. The guy working behind the counter said he didn’t know where prices were headed and that they would probably take effect in early June. I walked by a few days ago and didn’t see anything different.

There is a lesson in all this: buy hot dogs.

If you bought hot dogs from Grays’ Papaya in 2004 at 85 cents each, they would have nearly doubled in value by 2008. With all the gripes were hearing about food inflation, it’s pretty safe to say that we’ll see another big spike in 2011.

Hot dogs are the new gold.

I guess the only problem would be storing them. I do suspect, though, that hot dogs are like Twinkies – they last forever.

If you find yourself in New York, definitely hit Gray’s Papaya. If the prices are higher than you expect, try not to complain. It still really is the best deal in town!

Note: The space in the window at Gray’s Papaya seems to be reserved for political messages, as it once endorsed Barack Obama for president. Now, the company is sending a message about government spending and deficit management. Who ever knew that a dog from Gray’s Papaya came with a free civics lesson?

Another note: when prices were raised in 2008, I stopped at Gray’s Papaya on my way to work for a hot dog for breakfast (it’s sick, I know). There were television cameras set up out front. I didn’t know why. Well, it turns out that MSNBC was doing a story on the price increase. And, a good friend of mine, now my roommate, wound up being interviewed about it. He’s in this clip.