After the first quarter of the fiscal year ends in 2014, with the rise of the federal minimum wage, what sort of price increases should we expect?
For instance, in San Diego, gas is about $3.57 per gallon. Should I prepare for it to be $5.57?
How long does it usually take for the rest of the prices to catch up with the minimum wage?
I remember in 2008 it was about 4 months before prices increased and I felt for those first couple of months I had more buying power.
This question is in the General Section. Responses must be helpful and on-topic.