In the four weeks ending on June 12, the price of a hot dog package jumped about 17% compared to last year, according to the market research firm IRI, which tracks total US multi-outlet retail sales at US supermarkets, big-box retailers, convenience stores and other locations.
In that same period, ketchup prices spiked 21%, ground beef prices increased 11%, and hamburger and hot dog buns jumped nearly 13%.
Other grilling items also got more expensive. Frozen meat, not including poultry, went up 16%, frozen sausages got nearly 27% pricier, and lettuce prices rose about 13%. Mustard also got about 13% pricier.
Beer, on the other hand, spiked only about 4%. That’s a bargain, considering that the Personal Consumption Expenditures price index, a key inflation gauge, increased by 6.3% for the year ended in May .
But overall, “the cost of the holiday is going to be much higher this year than even last year,” Joan Driggs, VP of thought leadership at IRI, told CNN Business.
Fourth of July grilling will be pricey this year.
It shouldn’t come as much of a shock that Independence Day will be hard on your wallet — grocery prices have been soaring over the past year.
According to the Consumer Price Index, groceries were about 12% more expensive in the year ending in May, the largest year-over-year increase since 1979.
There are a number of reasons for the drastic increases. Higher fuel prices , rising commodity costs due to the war in Ukraine and severe weather have all impacted food supplies and prompted higher prices.
Driggs pointed to another problem — the difficulty in forecasting customer demand. Some manufacturers may have been anticipating that more people would be eating at restaurants by now, she said, but “with inflation, maybe people aren’t dining out as much as they used to.”
Meanwhile, demand for at-home celebrations is rising. “People are anticipating a little bit more home entertaining this year,” said Driggs.
Smaller discounts ahead
Those who bought grilling items in the weeks leading up to June 12 may not have been shopping specifically for Independence Day barbecues. Now, with July 4th just around the corner, there might be a few deals to be had. But any discount will likely be small, Driggs noted.
Prices may feel “a little more palatable when you take into consideration some of the promotions that are out there,” said Driggs. But this year’s deals might not reach “the depths of discounts that we saw in the past,” she said.
For example: In years past, consumers might have seen buy one, get one free deals in stores. This year, they might have to buy two to get the freebie.
One reason for less generous discounts, Driggs noted, is that with higher gas prices, fewer people will shop around for the best price.
“That’s kind of a bonus for retailers,” she said, but “it’s a tough mix for shoppers right now.”
— CNN’s Chiara Grimes and Alicia Wallace contributed to this report.
- Here's what it's like to spend July 4th in the most expensive vacation town in America
- What to buy every month of the year in 2018
- Boston Beer's Midyear Volumes Soar, but Don't Celebrate Yet
- Cardi B and Offset have been married for a year — here's a timeline of their whirlwind relationship
- THEN AND NOW: How the Miss America pageant has changed over the years
- The most expensive homes sold in the Hamptons in 2018
- Fourth of July gas prices: Here's why they're going up
- The Future Of Retail In The Age Of Amazon
- Timeline: Despite GOPâs Failure To Repeal Obamacare, The ACA Has Changed
- Skechers (SKX) Q2 2018 Earnings Conference Call Transcript
- An Inside Look At Chandon’s Strategy For Conquering The Millennial Bubbles Market
- Warby Parker Sees the Future of Retail
- The Simply Good Foods Company (SMPL) Q3 2018 Earnings Conference Call Transcript
- Charlotte’s airport manages ‘tricky balance’ between low-cost hub and fancy new gates
- Target offering teachers discount on school supplies during Teacher Prep Event
- Why Prime Day is important to Amazon
- Baker Hughes, a GE Company (BHGE) Q2 2018 Earnings Conference Call Transcript
- The 5 Worst Restaurant Stocks of 2018 (So Far)
- Highest-paid player on every NFL team
- Meghan Markle's net worth: From actress to Duchess of Sussex
|Crazy Earphone Banana / You will be Starr, if this earphone is attached and you walk along a town.5.0★ / check it now at Amazon||Opening to Angels: Contacting Your Guardian Angel and Being More Receptive to the Angelic Realm in your Daily Life (DVD)5.0★ / check it now at Amazon||Michael Jackson... We Love You More Our Voice Will Be Heard! check it now at Amazon||Spain Jersey - Goalkeeper Casillas jersey. I. Casillas 1 will be printed on this jersey.4.0★ / check it now at Amazon||Jonah Who Will Be 25 in the Year 2000 [VHS]4.5★ / $40.23||Your Dog Will Be Shampooed and Rinsed in Under One Minute with Woof Washer 360 / Large2.0★ / check it now at Amazon||B&D Cross body handbag Will be a simple, timeless addition to your fashion forward attire check it now at Amazon||Why not get this fine handbag that will be your friend for years to come.5.0★ / check it now at Amazon||The classic handbag will be a simple, timeless addition to your fashion forward attire. check it now at Amazon||He Will Be Strong: More Songs of Hope & Strength5.0★ / $29.75||The Only Name (Yours Will Be) [Accompaniment/Performance Track]$9.98||Tears Will Be the Chaser for Your Wine$136||I Will Be Your Friend [Accompaniment/Performance Track]$9.16||Motion Sickness/Soon You Will Be Leaving Your Man 7"$39.95||I Will Be Your Girlfriend$23.06||If You Buy This Record Your Life Will Be Better$11.84||Time Will Be Your Doctor: Anthology check it now at Amazon||Time Will Be Your Doctor: Rare Recordings check it now at Amazon||Tears Will Be Chaser For Your Wine$249.99||I Will Be Your Girlfriend Pt.1$10.72||No Parking, Vehicles Will Be Towed At Owner's Expense Sign, 12" x 6"$31.95||No Parking - Private Property Vehicles Will Be Ticketed/Towed At Owner's Expense Sign, 18" x 12" check it now at Amazon||No Parking - Private Drive Vehicles Will Be Towed At Vehicle Owners Expense Label, 18" x 12" check it now at Amazon||No Parking - Private Drive Vehicles Will Be Towed At Vehicle Owners Expense Sign, 18" x 12"$29.95||Fred N' Friends Spin Up Magnets - Because Your Fridge Could Be More Fun$24.99||Wall Décor Plus More WDPM1337 Boys Only All Others Will be Towed Wall Vinyl Sticker Saying Decal, 21W by 12H, Red5.0★ / $17.6||Irish Blessing- May Your Troubles Be Less and Your Blessings Be More Wall Decal 26x22 check it now at Amazon||Serenity Pillow By Mlily - This High Quality Memory Foam Pillow Will Be Your Only Pillow! check it now at Amazon||The Lord Will Be Your Everlasting Light Isaiah 60:19 Lighthouse Decorative Hanging Wooden MDF Sign check it now at Amazon||Free Will Be Your Own Kind Of Beautiful Wall Quotes Words Sayings Removable Wall Lettering (5.5" X 22")5.0★ / check it now at Amazon||Modele In Memory Angel by Pavilion, Reads "Your Memory Will Be Forever In Our Hearts", 9-Inches Tall$28||Good Morning, This Is God Wall Clock - "Good morning, this is God... I will be handling all of your problems today."3.0★ / check it now at Amazon||Cathedral Art Hanging Crib Medal Plaques. Hang Near Your Child's Bed for Protection. Your Prayers Will be Heard. Knee-Mail.$17.04||I Will Be Grateful For This Day wall saying vinyl lettering art decal quote sticker home decal5.0★ / check it now at Amazon||Crazy Earphone Katana / You will be Starr, if this earphone is attached and you walk along a town. check it now at Amazon||If One Thing Isn't Your Thing Another Thing Will Be Your Thing$21||There Must Be More Than This: Identity & Spiritual Renewal in the Kingdom of "Whatever" (A Letter to My Generation)$14.95||Who Will See Their Shadows This Year? check it now at Amazon||Who Will Be My Valentine This Year?$9.36||Ignite Your Intuition: Improve Your Memory, Make Better Decisions, Be More Creative and Achieve Your Full Potential$12.95||Who Will Be My Teacher This Year$4.75||There Must Be More Than This : Finding More Life, Love and Meaning by Overcoming Your Soft Addictions$10.58||There Must Be More Than This: Finding More Life, Love and Meaning by Overcoming Your Soft Addictions$1.69||I Will Be Married In a Year check it now at Amazon||RC Plane 'KNOW HOW'- An Illustrated Guide: "The more you know about them, the better your flying will be"$2||Look beyond Your Horizon: And You Will Be a High Achiever in the Making check it now at Amazon||Harbinger: You Are Not The First and There Will Be More After You (Kindle Worlds Short Story) check it now at Amazon||It Won't Be The Same This Year (Album Version) check it now at Amazon||Don't Be a Grinch This Year check it now at Amazon||Old Tin Sign Fort Leavenworth Prison Check Your Guns Or You Will Be Shot$21.95|
Your July Fourth celebrations will be more expensive this year have 1473 words, post on edition.cnn.com at July 2, 2022. This is cached page on USA Breaking News. If you want remove this page, please contact us.