How Inflation Will Impact Your Fourth of July Celebrations
Headline Roundup July 1st, 2022
High food and gas prices will make this year's Fourth of July celebrations more expensive than usual.
From chicken and beef to beer and soda, nearly every holiday cookout staple costs significantly more than it did last year. Multiple studies say food costs have risen between 11% and 17% from a year ago, outpacing the 8.6% annual inflation rate recorded in May. A recent report from Numerator says roughly 60% of Americans plan to grill this weekend, and 53% plan to get together with friends and family. According to AAA, the average price of a regular gallon of gas in the U.S. is $4.84, which is down from the highs of recent weeks but still up 55% from a year ago.
Sources across the political spectrum, especially on the right, highlighted how inflation will impact this year's Fourth of July festivities. Left- and center-rated sources focused more on tips for saving money. Some right-rated sources sarcastically highlighted a Biden administration tweet from last Fourth of July about how the price of a cookout had fallen $0.16 from the year before. Reports on opposite sides highlighted different data about food prices. Some on the left highlighted a Wells Fargo data report that said Fourth of July food costs were up 11%; some on the right focused on Farm Bureau Federation data that said costs had risen 17%.
Nothing says Independence Day like a good, old-fashioned barbecue.
In keeping with tradition, most Americans — roughly 60% — plan to grill this weekend, and 53% will get together with friends and family, according to a recent report by market research firm Numerator.
“Consumers want to celebrate this summer for a number of reasons, and food is central to that,” said Karol Aure-Flynn, a food and agribusiness analyst and author of Wells Fargo’s July Fourth food inflation report.
However, with the cost of burgers, chips, soda and side dishes on the rise, revelers will...
Inflation might be even more explosive than Fourth of July fireworks this year as families grapple with pricier cookouts and holiday plans.
The cost of a July Fourth cookout is expected to be 17% higher than last year, according to a market basket survey by the American Farm Bureau Federation. That is a number that outpaces headline inflation, as prices on average are 8.6% higher from a year ago, according to the consumer price index. It also represents a major reversal from the small savings for the holiday that the Biden White House infamously touted in 2021 —...
David Branch is making some changes to his Fourth of July celebration menu this year.
"I'm not doing ribs. I'm not doing beef brisket and other things that probably I would normally do," Branch said.
He's not alone. Rising inflation means that it's gotten more expensive to stock a party with the holiday's classic foods — about 11% more expensive than last year, to be exact. That's according to a new study that Branch co-authored, which calculated how much prices have risen for certain Fourth of July foods for a 10-person party....