Sorry New Yorkers, but according to the City Council, you're overpaying for both rent and milk. Anyone charging more than $3.93 for a gallon—86% of the city's milk sellers, from bodegas to Whole Foods—is violating the state's milk price-gouging law.

Consumers are gouged an extra $0.40 on average.

"My little girl drinks between two and three gallons of milk a week,” said Queens Democratic Councilman Eric Gioia. “And when you're being overcharged 40, 50 cents per gallon — I'm going to be okay, but there are a lot of families, if you've got a number of kids, that it can be really difficult."

If you're thinking "$0.40? That's nothing!," you're not alone. Potential mayoral candidate and supermarket billionaire John Catsimatidis also supports gouging local business:

"The supermarket business is a dying breed in the New York area," Catsimatidis told amNewYork. "Fifty percent of the supermarkets in New York City have gone out of business in the last 6 or 7 years because they didn't charge enough."

"[Speaker] Quinn should take Economics 101. It's inexcusable that an official of the city of New York would just try to panic people."

He's right, you shouldn't panic. If you see a grocer selling milk for more than $3.93 a gallon, or $2.01 per half gallon, call the state's special anti-price-gouging hotline, at (800) 554-4501.

Report: Majority of Sellers in City Are Overcharging for Milk [The New York Sun]
Catsimatidis Sour On Quinn Milk Report [The Daily News]
(Photo: Getty)