NEW YORK (AP) — There's good news for proprietors of New York City newsstands. The city is easing a $5 price cap that vendors say has prevented them from stocking cellphone chargers, some batteries and all but the cheapest umbrellas.
Mayor Michael Bloomberg signed a measure Tuesday lifting the pre-tax, retail price limit to $10 per item. The bill by City Councilwoman Karen Koslowitz (KAZH'-luh-wihts) takes effect in three months.
The cap is meant partly to keep the sidewalk stands from evolving into mini-marts. It went from $2 to $5 in 2002.
Newsstand operators say the limit has priced them out of selling brand-name batteries, large packs of candy and other items patrons want.
The NYC Newsstand Operators Association says there are about 300 stands citywide now, compared to nearly 1,600 in the 1950s.