MEMPHIS, Tenn. — Fireworks aren’t the only thing skyrocketing this Fourth of July. Prices at the gas pump and grocery stores are on the rise, so celebrating the holiday could cause a case of sticker shock.
AAA reports gas in Memphis costs around $3.48 per gallon, which is 20 cents more compared to this time last year and the highest since the Fourth of July in 2008.
Lawrence Davis decided to go to St. Louis this year “instead of Chicago,” to save some money.
But even if you decide to stay in town, throwing a celebration will add up.
The American Farm Bureau Federation reports if you throw a BBQ for ten people, on average you will spend $67. Ten years ago, you paid $52.
Beef is up a dollar since last year, because of smaller cattle herds, higher feed prices and a growing demand in other countries.
The price of pork is also up, because of an outbreak of Swine flue.
“I remember the time I could get a pork shoulder for much cheaper than what I’m getting it for right now,” said Edward Davis, a Southaven resident.
Lettuce, tomatoes, dairy products, and if you plan on providing beer, plan on paying more because of international demands and droughts out west and in Mexico.
“Ribs, chicken and hamburgers,” said Joan Grady as she was looking at everything in her cart. She said she’s noticed higher prices at the grocery store, so she’s budgeted for her cookout.
“I have kids, and they are all married, and I have grandkids, so probably a couple hundred dollars,” she said. “I haven’t paid that in past years.”
Even with higher prices, most people we talked to said it’s not going to put a damper on their holiday fun.
The National Retail Federation said this weekend alone, people will spend more than $6 billion nationwide.
