God Bless America and its recessed economy this Fourth
Jul 1, 2014, 4:36 PM
Celebrations will come this Friday on the Fourth of July. They may be just down-scaled a bit.
America’s recessed economy — specifically, inflation on gas and red meat — may lay waste to the parties of old.
The American Farm Bureau Federation reports in an NBC News story that “the average cost for a July 4th picnic for 10 is $58.72, 5.4 percent higher than last year.”
The survey is based on retail prices from 84 shoppers’ findings in 26 states and Puerto Rico. Meat and dairy prices rose the most. The cost of ground round shot up 13.4 percent, pork spare ribs 13.2 percent and American cheese 14.3 percent. The biggest drop in the survey came from ketchup prices, which fell 12.3 percent, while hot dog prices slipped 2.6 percent.
And trips to the butcher, meanwhile, are going to cost you more, too.
Gas prices have risen by 15 to 20 cents a gallon, according to AAA, on Independence Week. The inflation is war-related, too. A 24/7 Wall Street story says that the rise comes from “market fear about Iraq,” as the United States looks to quell a spike in terrorist violence with drones and material support.
There will be cookouts this Independence Day, yes. But the cost of celebrating is going to be a bit more than Americans are used to dropping.
