As meat prices hover near record highs, here’s 3 ways to save on your July 4 cookout

With record high meat prices, consumers look for ways to save on their July 4th cookout.

Market Trend: Meat prices have risen 13% since 2021, and prices are expected to remain high.
* According to the Wells Fargo Fourth of July Food Report, sirloin steaks, which now cost an average of $10.75 per pound, have seen a 2.9% increase from last year.
* Notably, this follows a 14% increase from the year before.

Alternate Choices: To counter high beef prices, consumers shift to cheaper meat alternatives.
* Consumers have begun buying pork and ground beef, priced at $4.19 and $5.36 per pound respectively, both modestly increased from last year.
* It is reported that 76% of shoppers have changed their meat-buying habits due to inflation.
* Chicken is another alternative at $4.24 a pound, with chicken breast prices falling by 9% from last summer.

Holiday Splurge: While consumers exhibit more price-conscious behavior, special occasions like the July 4th still prompt a bit of indulgence.
* Market researcher Anne-Marie Roerink predicts that consumers might be willing to splurge on meat for the holiday.
* If consumers decide to spend more on steaks or burgers, they could balance their budget by cutting back on other items such as soda and sparkling water.

Smart Shopping: Coupons and sales can help mitigate the cost of high meat prices.
* According to Roerink’s report, 35% of shoppers look for coupons or stock up on meat when it’s on sale.
* Comparing deals across different grocery stores can also lead to savings, especially when looking for specific products.

View original article on NPR

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