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Your July Fourth celebrations will be more expensive this year

The 4th of July celebrations will be very expensive this year. Silver roof? Beer is still cheap. In the last four weeks ending June 12, the price of a hot dog pack has risen by almost 17% compared to last year, according to market research firm IRI, which follows the total sales of U.S. supermarkets in United States. supermarkets, big box retailers, convenience stores and other places. During this time, ketchup prices increased by 21%, beef prices by 11%, hamburgers and hot dog buns jumped by almost 13%. Other baked goods were also expensive. Frozen meat, without chicken, went up 16%, frozen sausage got about 27% off price, and lettuce prices went up almost 13%. Mustard also got about 13% price.Beer, on the other hand, spiked only about 4%. This is a trade, considering that the Personal Consumption Expenditures price index, a measure of inflation, increased by 6.3% for the year ended in May. But overall, “holiday pay will be higher this year than last year,” Joan Driggs, VP of leadership at IRI, told CNN Business. It should come as no surprise that Independence Day will be hard on your wallet – food prices have been rising over the past year. According to the user. Consumer prices, food prices were almost 12% more expensive in the year ended in May, the highest increase in a year than in 1979. There are several reasons for the sharp increase. Higher oil prices, rising commodity prices due to the war in Ukraine and severe weather have affected food production and led to high prices. Driggs points to a problem – the perceived difficulty of customer demand. Some manufacturers may expect that more people will eat at restaurants right now, she said, but “with rising commodity prices, maybe people are not eating as well as they used to.” Meanwhile, the demand for local festivals is increasing. . “People are expecting more home entertainment this year,” says Driggs.Smaller discounts in advance Those who have purchased bakeries in the last few weeks to June 12 may not have made a special purchase for Independence Day Barbecue. Now, with the fourth of July just around the corner, there could be some deals to be made. But any discount could be smaller, Driggs noted.The price may feel “a little lower if you consider some of the sales out there,” Driggs said. But this year’s deal will not reach “the depth of discounts we have seen in the past,” she said. Example: Over the years, consumers will be able to see one purchase, get one free in stores. This year, they can buy two for free. One reason for the generous discount, Driggs notes, is that with higher gas prices, fewer people will shop for the best price. “she said, but” it’s a difficult thing for shoppers right now. ”

The 4th of July celebrations will be very expensive this year. Silver roof? Beer is still cheap.

In the last four weeks ending June 12, the price of a hot dog pack has risen by almost 17% compared to last year, according to market research firm IRI, which follows the total sales of U.S. supermarkets in major American stores, major retailers. , convenient shops and other places.

During this time, the price of ketchup increased by 21%, the price of beef increased by 11%, and hamburgers and hot dogs jumped by almost 13%.

Other competitors are also expensive. Frozen meat, without chicken, went up 16%, frozen sausage got about 27% off price, and lettuce prices went up almost 13%. Mustard also got almost 13% off price.

Beer, on the other hand, increased by only 4 percent. This is a trade-off, considering that it is a pillar of the Consumer Electronics Consumer Electronics Consumer Electronics Consumer Electronics Consumer Electronics Consumer Electronics Consumer Electronics Consumer Electronics Consumer Electronics Consumer Electronics Consumer Electronics Consumer Commodity Markets), a key indicator of inflation, increased 6.3% year-on-year in May.

But overall, “holiday pay will be higher this year than last year,” Joan Driggs, VP of thought management at IRI, told CNN Business.

No need to panic the day independence will have a hard time on your wallet – consumer prices have soared over the past year.

According to Consumer Price Index, food items were almost 12% more expensive in the year ending in May, the highest increase over the year since 1979.

There are many reasons for a strong increase. High oil prices, rising commodity prices due to the war in Ukraine and severe weather have all had an impact on food prices and caused rising commodity prices.

Driggs points to another problem – the difficulty of predicting customer demand. Maybe some manufacturers expect that more people will eat at restaurants right now, she said, but “with rising commodity prices, maybe people are not eating as well as they used to.”

Meanwhile, the demand for local festivals is increasing. “People are expecting more home entertainment this year,” Driggs said.

Small discounts ahead

Those who bought the baked goods in the weeks leading up to June 12 may not have made special purchases for Independence Day barbecues. Now, with the fourth of July just around the corner, there could be some deals to be made. But any reduction could be small, Driggs said.

Prices may feel “a bit tasty compared to some of the ads out there,” Driggs said. But this year’s deal will not reach “the depth of discounts we have seen in the past,” she said.

Example: Over the years, consumers will be able to see one purchase, getting one free transaction in stores. This year, they may buy two for free.

One reason for the generous discount, Driggs notes, is that with rising gas prices, fewer people will shop for the best price.

“This is a form of freebies for shoppers,” she said, “but it’s difficult for shoppers right now.”

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