Inflation Strikes July 4 Cookouts: Cost of Meat and Fireworks Up Over 25%

Fireworks and TravelSource: Consumer Price Index, Bureau of Labor StatisticsShoppers looking for roman candles or snappers will find the price of fireworks has risen 25%-30% over last year, according to a major U.S. firework retailer.

Demand for consumer fireworks has been up since the start of the pandemic, and William Weimer, vice president of Phantom Fireworks, said that high shipping costs and labor shortages have led to the spike in prices. While 2022 sales are not finalized, despite a firework shortage last year, Phantom Fireworks sold 428.8 million pounds of product, its most ever.

Americans traveling for the holiday weekend also will be hit hard at the pump. The national average for a regular gallon of gas remains near the $5 mark, more than double what it was in October 2020.Source: Consumer Price Index, Bureau of Labor StatisticsA cooler packed with icy drinks is a staple at any summer barbecue. While the price of wine has remained largely unchanged, even falling slightly, other drinks, like beer and soda, will cost more ahead of July Fourth.

Soda in particular is reflecting inflation. The average cost of 12 ounces of soda was 47 cents in May 2022, a 22% increase from a year earlier. Beer also will be more expensive, with the average cost up around 8%, according to the most recent available data.Source: Consumer Price Index, Bureau of Labor StatisticsMost holiday celebrations also call for plenty of snacks to share and a dessert table. This year, the cost of common desserts and sides is up more than 10% from a year earlier.

are grilling this weekend and over half are getting together with friends and family, according to market research firm Numerator.

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