Tags: cost of living | food prices | summer | holiday | meat

Summer Holiday Food Favorites Are Costlier: Surveys

By    |   Monday, 29 May 2023 03:08 PM EDT

It’s a lot more costly to feed family and friends on this year’s holidays like Memorial Day — with fixings for a backyard barbecue reportedly at steeply higher prices.

The latest Consumer Price Index found that food prices are up 7.7% in the 12 months through April, but prices for classic barbecue staples like ketchup and mustard have had much bigger hikes, Axios reported on Monday.

Citing an analysis by Datasembly, Axios reported a Memorial Day basket of seven barbecue essentials cost $27.32 in 2023 compared with $25.07 the same time last year — an increase of nearly 9%.

Meanwhile, a survey by Numerator found that more than 75% of consumers said they expect rising prices to impact their holiday spending, Axios reported.

For example, a 32-ounce bottle of ketchup saw the biggest increase at 27.9%, followed by a 20-ounce bottle of mustard that went up 13% and relish up 12.3%, Datasembly found.

The only item that saw a slight decline was a pack of 80/20 fresh ground beef burgers, which went down in price by 3 cents.

As for other barbecue favorites, surveys for Axios — including data from Circana OmniMarket Integrated Fresh — and federal figures showed increases as well:

  • Hot dogs cost almost 3% more.
  • Hamburger and hot dog buns were each up about 7.4%.
  • Ribeye steaks averaged $12.57 a pound in the four weeks through May 14, up 11.6% compared with a year ago.
  • One pound of 100% ground beef averaged $4.79 as of April, down from a record high of $4.937 in August 2022.
  • Ground beef prices varied by region, with the West having the highest average price in April of $5.48 per pound and the Midwest having the lowest at $4.652 a pound.

Axios also reported, however, that inflation has slowed and isn’t impacting many food prices the same way it did last summer. In May 2022, hot dog prices were up 16.3% compared with the year before, the Consumer Price Index showed.

© 2024 Newsmax. All rights reserved.


Newsfront
Recent surveys show that it's a lot more costly to feed family and friends on this year's holidays like Memorial Day — with fixings for a backyard barbecue reportedly at steeply higher prices.
cost of living, food prices, summer, holiday, meat
326
2023-08-29
Monday, 29 May 2023 03:08 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved