05/24/2012 11:13 am ET

Cocktail Economics: $20 Drinks May One Day Be The Norm

Cocktail prices in New York have pretty reliably stayed in the $12 to $17 range for the last several years, but there will come a day, sooner than you might think, that $20 becomes the regularly accepted price for a nice New York City cocktail in a moderately elegant setting.

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