Grocery shoppers making 'dramatic shift' away from national brands amid inflation, supermarket chain says
Food costs for July 4th barbeques are up 17% from last year's 16-cent discount
American economy facing ‘perfect storm’: Grocery store co-owner
Morton Williams Supermarkets co-owner Avi Kaner comments on food inflation ahead of the July 4th holiday.
Americans who want to ring in another year of independence may have to rethink their tailgates and barbeques as inflation raises costs for popular food items.
Morton Williams Supermarkets co-owner Avi Kaner broke down different options and consumer trends for holiday celebrations on "Cavuto Coast to Coast" Friday, sharing that many Americans are switching from national brands to local, private brands.
"Today, private labels are at the same quality or better than the national brands, and consumers are now trying them out," Kaner observed. "And I believe that once they try it out, they'll they'll stick with that and it'll help them out."
Prices have risen an average of $10 for popular July 4th foods just one year after the White House touted a 16-cent discount on the same foods. Families can expect to pay nearly 17% more this year for the same barbeque they may have had last year.
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Nathan’s July 4th hot dog eating contest. Thursday, July 4th 2019 The 103rd annual Nathan's July 4th Hot Dog eating contest in Coney Island Brooklyn, NYC on Stilwell & Surf avenues. (Paul Martinka)
Many Americans are changing July 4th traditions as a result of rising costs. Whether it’s burgers, hot dogs, chicken or even buns, Americans can expect to fork out more dough this Fourth of July.
"Unfortunately we're seeing a perfect storm across every single category," Kaner said. "Feeding their kids, their families, [Americans] will be paying more for the foreseeable future."
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In addition to the added cost of groceries, Americans are also facing a tumultuous travel economy. The average national fuel cost is nearly $5 a gallon and air travel is both expensive and unreliable.
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Kaner, however, remains optimistic ahead of America's celebration of independence.
"Americans are the most resilient people in the world and we'll get through this," he said.
Fox Business' Jessica Chasmar contributed to this report.