The shock of the sticker is everywhere, from burgers to buns, from ketchup to mustard. The good news is that there is now some price relief in stores.
During the four weeks to May 15, the price per pack of minced meat increased by 14.7% compared to the previous year, according to market research firm IRI, which tracked sales retailers at various U.S. outlets in supermarkets, department stores, and more. convenience stores and other locations.
The price of packages of frozen meat, not including poultry, rose 15.7%, while the prices of frozen sausages rose 24.4%. Hot dogs were 14.5% more expensive. Packed burgers and hot dog buns were 11.2% more expensive. Ketchup rose 15.8%, mustard rose 10.4% and carbonated beverage prices rose 13.9%.
Fresh lettuce prices rose 13.8%, and fresh tomatoes rose by 4.8%.
However, the increase should not be too shocking, as food prices have risen this year.
Food prices were 9.4% higher in April 2022 than in April 2021, the largest annual increase in 41 years, the Bureau of Labor Statistics said in early May. According to the BLS report, grocery prices rose 10.8% during the year, not adjusting for seasonal changes.
Several factors have led to rising food prices recently, ranging from bad weather, which has reduced crop yields, and the invasion of Russia, which has raised the prices of wheat and others.
Even people who visit friends and family to celebrate the holidays will pay more than last year, as the average price of gas per gallon is $ 4.60, a record high. The price of gas has risen by 30% since the Russian invasion of Ukraine in late February. The price of $ 4.60 a gallon is about 50% higher than last Memorial Day weekend.
A good cover: Those who have not yet made Memorial Day purchases can expect a discount compared to prices in late April and early May.
In the days leading up to the holidays, retailers are likely to offer classic barbecue food offerings, such as hot dogs and rolls, said Jonna Parker, director of IRI Fresh.
“They’re going to really want to drive that traffic,” he explained. “And so they could get a margin hit or even a loss on one of the key Memorial Day items to try to get other items in the [shopping] basket “.
But don’t get too excited. Even with these discounts, prices are likely to be higher than last year.
“I think we’re still going to see a year-over-year increase,” Parker said. “I guess it will still be five to 10 percent higher than last year’s Memorial Day.”
Stew Leonard Jr., president and CEO of small grocery chain Stew Leonard’s, has this advice for shoppers who want to keep their grocery bills low: “Buy special offers.” He also said shoppers should consider buying branded products from the store.
Leonard noted that suppliers have been charging more as their costs increase and that their stores have passed on about half of those increases to customers.
“It’s hard out there. It’s a tough environment. I’m sorry for our customers,” he said, adding that Stew Leonard’s “is trying to offer the best possible value for Memorial Day.”
Or you can simply go for a $ 4.99 roast chicken.
-— CNN’s Matt Egan contributed to this report.