Tweet From White House Comes Back to Haunt Them One Year Later as Inflation Reaches Record-High Numbers
A 2021 tweet from the White House is coming back to haunt them in the rear as inflation reaches record-high levels.
The White House gleefully touted on July 1, 2021, that the “cost of a 4th of July cookout in 2021 is down $0.16 from last year.”
Of the items shown in the slide, beans were down 13%, ice cream was down 5% and freshly-squeezed lemonade was down 2%, according to the graphic.
“Planning a cookout this year? Ketchup on the news. According to the Farm Bureau, the cost of a 4th of July BBQ is down from last year. It’s a fact you must-hear(d). Hot dog, the Biden economic plan is working. And that’s something we can all relish,” the White House tweeted.
The average Fourth of July cookout is estimated to be 17% more expensive this year than 2021, according to the American Farm Bureau Federation. The increase is led by a spike in chicken, pork and ground beef, which are all up by approximately 33%. Lemonade is up by 21%, according to the federation.
Chief Economist for the American Farm Bureau Federation Roger Cryan said rising fuel, labor and fertilizer costs coupled with Russia’s invasion of Ukraine are to blame.
Overall consumer prices have reached a four-decade high, with the May 2022 Consumer Price Index showing an 8.6% increase year-over-year.