The average US cookout on July 4 this year increased 17% compared to 2021

Americans preparing for the July 4th holiday can expect even more money, with the average price of a traditional cookout at least 17 percent higher than in 2021.

According to the Consumer Price Index compiled by the US Bureau of Labor Statistics, prices for all BBQ staples, including burgers, hot dogs, and chicken, have risen and could cost ਪਰਿਵਾਰ 76.94 for an average cookout for a family of four.

Prices are up 17 percent from last year’s total of .4 65.46.

Across the board, Americans are suffering under Biden inflation. Energy, gas and food prices have risen astronomically over the past year.

“Real inflation is too high for the vast majority of Americans” from what is being reported

Phil Lampert, editor of the trade publication SupermarketGuru.com and a food industry analyst, told the New York Post that he attributed the skyrocketing prices to four issues: climate change; Labor shortages in farms, supermarkets and the trucking industry; Rising diesel prices; And the war in Ukraine.

“The biggest price we’re seeing is on beef, pork, chicken, eggs and milk,” Lampert told the Post. Buyers looking for a break should not hold their breath.

“Prices are going up,” he said. “It’s probably not going to be settled for another 12 months, until we actually address the supply chain issues; Solve traffic problems and control the environment.

Hot dogs are now up 37.37 percent per pound from 2021, rising from $ 3.80 to 22 5.22. Chicken increased by 27.89 per cent and soda by 16.56 per cent.

Last year, the White House was incensed by claims that the July 4 cookouts would be cheaper, despite the rise in inflation to 13-year highs.

However, social media users were quick to point out that the savings saved were a modest 16 cents, alleging that the White House was out of touch.

‘Are you planning a cookout this year?’ Read the tweet. Ketchup on the news. According to the Farm Bureau, the cost of the July 4 BBQ is lower than last year.

‘This is a fact you must listen to (D). Hotdog, Biden economic plan is working. And that’s something we can all enjoy. ‘

Accompanying the tweet was a GIF explaining the change in the price of selected food items.

President Biden said Monday that he would decide by the end of the week whether to order a holiday on the federal gasoline tax, which would likely save US consumers 18.4 cents per gallon.

“Yes, I’m thinking about it,” Biden told reporters after a walk along the beach near his holiday home in Delaware. “I hope a decision will be made based on the data – I’m looking forward to the weekend.”

The administration is looking for ways to protect people from the high prices at the pump, which began to rise last year and escalated after Russia invaded Ukraine in February. According to the AAA, gas prices across the country averaged less than $ 5 per gallon.

Biden said members of his team would meet with CEOs of major oil companies this week to discuss rising prices. Biden lashed out at the oil companies, saying they were making huge profits at a time when people were experiencing skyrocketing costs on pumps and inflation. But Biden said he would not meet with oil officials himself.

“I want to clarify why they are not refining other oils,” Biden said.

The Biden administration has already released oil from the US Strategic Reserve and increased the ethanol blend for the summer, and last week sent a letter to oil refiners urging them to increase their refining capacity. However, those efforts are aimed at effectively easing price pressures, as the administration is now considering a gas tax break. Taxes on gasoline and diesel fuel help pay for the highway.

The Penn Wharton Budget Model released estimates on Wednesday showing that consumers have saved on gas due to gas tax holidays in Connecticut, Georgia and Maryland. The majority of savings went to consumers, rather than to service stations and others in the energy sector.

In an interview with ABC’s “This Week” on Sunday, Treasury Secretary Janet Yellen revealed the openness of the federal gas tax holiday to provide some relief to motorists. Energy Secretary Jennifer Granhome warned CNN’s “State of the Union” in her Sunday interview that “part of the challenge with the gas tax, of course, is funding the roads.”

Oil refiners say their capacity to produce surplus gas and diesel is limited, meaning prices could remain high until demand begins to decline.

The American Petroleum Institute and American Fuel and Petrochemical Manufacturers sent a joint letter to Biden on Wednesday stating that the refineries are already operating close to their maximum capacity and about half the capacity to convert to renewable fuel production facilities. Was due.

“Today’s situation did not happen overnight and will not be resolved soon,” the letter said. “To protect and comply with America’s energy security and refining capabilities, we urge you to take steps to promote new domestic energy production, including new infrastructure and a reduction in regulatory burdens.”

While walking along the beach with his daughter Ashley, granddaughter Naomi, and his granddaughter’s fianc, Biden often stopped by to talk to beachgoers who were spending the Juventus federal vacation on the beach.

It took a moment to reassure inflation – the consumer price index hit a 40-year high of 8.6% in May from the same month a year earlier – and growing warnings from economists that a recession could be imminent. .

“We’re going to get it, guys,” Biden told a group of beachgoers.

Last week, the Federal Reserve stepped up its campaign to control inflation by raising its key interest rate by a quarter to three-quarters – its biggest rise in nearly three decades – and signaling another major rate hike to come. Given.

Former Treasury Secretary Larry Summers told NBC’s Meet the Press on Sunday that in his view, “there is a strong possibility that by the end of next year, we will see the US economy slow down.”

Biden said he spoke Monday morning with Summers, who served as Treasury Secretary in the Clinton administration.

“Nothing is certain about the recession,” Biden said.