Independence Day barbecues, like everything else, will cost a little more this year
WACO, Texas (KWTX) – This may be the first seemingly normal summer people have had in a few years. What is not normal is the price to celebrate.
This is something people should expect when preparing for those 4th of July barbecues. At this point in the year, however, people may be used to high prices.
“But I don’t think that dampened their anger toward him,” said Rob Tennat, an assistant professor of accounting at Texas A&M University Central Texas.
This year, backyard barbecues are going to be more expensive than they have been in the past.
“Last year the Biden administration posted on social media that we were going to save 16 cents over the previous year,” Tennant said. “This year it will cost people, on average, $10 more for the same meal.”
There is a slight reprieve from the high prices, at least for the more expensive grills like meats.
“Beef prices are down a bit from where they were about a month ago, but they’re still higher,” said Ray Perryman, chairman and chief executive of the Perryman Group. “It’s going to impact chest, it’s going to impact burgers, some hot dogs and that sort of thing.”
Behind the meats hide cereals. So the buns are going to be a bit more expensive too.
Some data also shows that pre-pandemic Independence Day barbecues would have cost just under $60. But this year, it’s closer to $70.
“We’re going to continue to see some price increases over time,” Tennant said. “And I think we’re going to have to fight for that.”
And, according to Tennant, as long as shipping costs stay high, prices for everyday items will stay high.
Although the Federal Reserve and the White House are stepping in to help, it may be a while before things start to get cheaper.
“But I don’t think they’ll arrive in time to help us over the Fourth of July weekend,” Perryman said. “And probably not Labor Day weekend for that matter.”
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