(WHTM) – Many of us are now preparing for our Labor Day cookout, often the last big cookout of the year.
And while inflation has slowed down, That doesn’t mean it will be cheap.
Remember how bad grocery prices were last Labor Day, with food prices up 10.4 percent from 2021 to 2022?
The good news is that inflation is subsiding, though that doesn’t mean prices are down enough to notice.
JP Homan runs a prime beef market.
But Homan says the great thing about holidays like the 4th of July and Labor Day is that they don’t require pricey steaks.
“It’s not Father’s Day,” he said. “People are happy with burgers.”
The American Farm Bureau Federation says a cookout in 2023 will cost about three percent less than last year, or about $67 for the average family.
But from the “doesn’t that stink” file, one reason this Labor Day will be costlier than last year is high gas prices.
Gasoline is at an 8-month high right now, averaging $3.80…. 40 cents higher than our last holiday, the Fourth of July.
AAA blames high summer demand and high oil prices, so any savings on that burger will be offset by filling your tank.
Luckily, most grocery stores are running big sales on ground beef and sides, which should keep your weekend costs down.
And that way you don’t waste your money.