People expected to pay more for July 4th groceries this year
As the 4th of July weekend approaches, people around SoCal are planning their celebratory meals but they may end up spending more than usual.
According to the American Farm Bureau Federation Market Survey, Americans will be spending on average around 70 dollars for a ten-person July 4th menu, up 17% compared to last year.
Economists say the rise in prices is due to inflation, the war on Ukraine and a jump in farmers' expenses.
"The price of fuel. That's a big deal for farmers' businesses," said Senior Economist Veronica Nigh. "We've also seen tripling in the price of fertilizer, the cost of labor, the cost of land."
As of Tuesday, two pounds of ground beef is up by 36% and chicken breast was p 33%. Fresh squeezed lemonade soured 22%.
How can shoppers save this holiday? How about getting higher fat percentage ground beef, switching out chicken breast for thighs, or skipping the name brands for generic.
When all else fails, you can split the costs with all your guests. That way everyone chips for the big meal.