Will Rising Prices Affect New Yorkers' Vacation Plans? [POLL]

NEW YORK — Have you been to the gas station lately?

Every day it seems like the price keeps going up — because, no matter where you are in New York, it likely is.

On Friday, according to AAA, the national average price for a gallon of regular gasoline was $5.

In New York, the average price was $5.03, up a penny from a week ago. A month ago, it was $4.81; a year ago, $3.13.

It's even more expensive on Long Island. AAA said the average price Friday was $5.03. In the Dutchess-Putnam area, it was $5.07.

And that's not all that's going up in price.

The Consumer Price Index in the Northeast went up 0.9 percent in May, an increase of 7.5 from a year ago.

Food prices rose 1.1 percent for May — the 15th consecutive month of increase.

Energy prices were still the biggest driver of cost increases. Prices advanced 7.4 percent over the month mainly due to higher gasoline prices (10.8 percent) and fuel oil (18.4 percent). Electricity and utility gas went up 1.5 percent and 2.4 percent, respectively.

Now, if all that wasn't a kick in the pocketbook, the Federal Reserve just raised interest rates 0.75 percent Wednesday, in hopes that consumers — that's you and me — will be less inclined to make big purchases. That, in theory, will lower demand and allow prices to come down and stabilize.

The interest rate hike basically means, according to The Washington Post, that borrowing money will be more expensive, and that will have an impact on credit card bills, loans for new cars and mortgages.

All this talk of inflation begs the question — now that we are getting into the vacation season — will rising prices change people's minds about how they will spend the summer?

Vote in our unscientific poll and tell us what you think in the comments.