Inflation will impact people’s Fourth of July

Peterson does say, however, that price declines aren’t too far off
Published: Jun. 24, 2022 at 4:26 PM MDT
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TWIN FALLS, Idaho (KMVT/KSVT) — As families get ready to celebrate the Fourth of July, higher prices at the grocery store may have an impact.

According to economists, food as a whole is up 10% since last year. This is making it tough on many families across the country.

While there is an expectation that inflation will calm down eventually, they say relief will not come in time for your Fourth of July backyard barbecue.

“These price shocks are certainly going to harm the family’s overall well-being,” said Steven Peterson, an associate professor with the University of Idaho.

Peterson does say, however, that price declines aren’t too far off, and that over the course of the coming year, he does expect prices to begin declining.

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