New York (CNN Business)July 4th Celebrationwill be more expensive thanthis year. Silver lining? Beeris still relatively cheap.
In the four weeks leading up to June 12, hot dog package prices are compared to last year, according to market research firm IRI, which tracks US mulch totals. It increased by about 17%. -Outlet retail sales in US supermarkets, large retail stores, convenience stores and elsewhere.
At the same time, ketchup prices soared 21%, ground beef prices soared 11%, and hamburger and hot dog bread soared nearly 13%.
Other grill items are also more expensive. Frozen meat, excluding chicken, rose 16%, frozen sausages rose nearly 27%, and lettuce prices rose about 13%. Mustard is also about 13% priced at.
But overall, "this year's vacation costs will be much higher than last year," Joan Driggs, vice president of thought leadership at IRI, told CNN Business.
According to the Consumer Price Index, food prices were up about 12% in the year to May, the largest year-on-year increase since 1979.
Driggs pointed out another problem: the difficulty of predicting customer demand. Some manufacturers may have expected more people to eat in restaurants now, but "inflation may mean that people aren't eating out as much as they used to," she said. rice field.
Meanwhile, the demand for home celebrations is increasing. "People are expecting a little more homely entertainment this year," Driggs said.
Those who purchased grilled items in the weeks leading up to June 12 will shop specially for Independence Day barbecue. You may not have done so. Now that July 4th is just around the corner, there may be some deals going on. But the discount is probably small, Driggs said.
The price may feel "a little more palatable given some of the promotions out there," Driggs said. But this year's deal may not reach "the depth of discounts we've seen in the past," she said.
Example: Over the past few years, consumers may have seen buy andtrade for free in stores. .. This year, they may need to buy two to get a free gift.
One of the reasons discounts aren't generous is that higher gas prices mean fewer people shop at the best prices.
"It's a kind of bonus for retailers," she said, but"It's a difficult combination for shoppers so far."
— CNN's Chiara Grimes and Alicia Wallace contributed to this report.