Americans who want to ring in another year of independence may have to rethink their tailgates and barbeques as inflation raises costs for popular food items.
Morton Williams Supermarkets co-owner Avi Kaner broke down different options and consumer trends for holiday celebrations on “Cavuto Coast to Coast” Friday, sharing that many Americans are switching from national brands to local, private brands.
“Today, private labels are at the same quality or better than the national brands, and consumers are now trying them out,” Kaner observed. “And I believe that once they try it out, they’ll they’ll stick with that and it’ll help them out.”
Prices have risen an average of $ 10 for popular July 4th foods just one year after the White House touted a 16-cent discount on the same foods. Families can expect to pay nearly 17% more this year for the same barbeque they may have had last year.
AS 4TH OF JULY FIREWORKS COSTS EXPLODE, EXPECT SHORTER DISPLAYS, SAYS ONE INSIDER
Many Americans are changing July 4th traditions as a result of rising costs. Whether it’s burgers, hot dogs, chicken or even buns, Americans can expect to fork out more dough this Fourth of July.
“Unfortunately we’re seeing a perfect storm across every single category,” Kaner said. “Feeding their kids, their families, [Americans] will be paying more for the foreseeable future. “
In addition to the added cost of groceries, Americans are also facing a tumultuous travel economy. The average national fuel cost is nearly $ 5 a gallon and air travel is both expensive and unreliable.
CLICK HERE TO READ MORE ON FOX BUSINESS
Kaner, however, remains optimistic ahead of America’s celebration of independence.
“Americans are the most resilient people in the world and we’ll get through this,” he said.
Fox Business’ Jessica Chasmar contributed to this report.