Inflation Making 4th of July an Expensive Day
Americans are recognizing Independence Day today but there is one issue they are wrestling with during their celebrations. The price of both food and fireworks has gone up. We looked at whether anyone is letting inflation spoil their fun.
Grocery stores were packed Monday with people stocking up on food for barbecue. Those we spoke with were excited to get out or even stay inside.
”We’re going to barbecue for sure," said shopper Priscilla Paz.
“No, we’re just going to go see fireworks. It’s too hot to barbecue today," explained Natalia Garcia, a consumer.
“I have a friend coming over. We’re just going to chill. I have dogs that they get really scared," Consumer Carl Ferguson told us.
“We’re just going to stick with the chicken because it’s cheap and the hot dogs," Paz added.
The American Farm Bureau Federation reports a 4th of July cookout will be 17% more expensive than it was a year ago. A barbecue for 10 people will likely cost $69.68 on average, around $10 more than last year. The group attributes this to supply-chain issues, the war in Ukraine, and inflation that we have all been dealing with. Many have found it tough.
“Especially gas. To do a lot of things you second-guess things. You’re like, is it really worth driving over there," Garcia said.
“Well, unfortunately, what can we do? We gotta eat. We have to pump gas," noted Paz.
So some are deciding to avoid the traditional barbecue altogether.
“Yeah, I think it’s better if you just go get something to eat or make something else. Instead of barbecue," Garcia told us.
According to the numbers, the cost of fireworks is also going up this holiday. And, those who love fireworks are not happy about it.
The American Pyrotechnics Association is reporting that shipping costs have gone through the roof in recent years, from $8,000 to $10,000 per container in 2019 to approximately $45,000 per container now.
Yes, that means prices this year are nearly double what they were in pre-pandemic 2019.
One consumer tells us he anticipates his fun this year costing a lot more than usual.
We asked Hector Perez, a consumer buying fireworks, if he was paying more this year for the items. He responded, “I’m about to find out. But I bet I am.”
He says it is hard for his family to have fun with one of their favorite times of the year.
“We get to buy less. The kids like them so we do it for them," explained Perez.
With the enormous price increase, Americans are projected to spend just over $2 billion on fireworks this year. That is an average of $200 per family.