Inflation impacts Memorial Day Weekend cookouts
WICHITA FALLS, Texas (KAUZ) - Inflation rates on food will have a huge impact on families wanting to grill this Memorial Day Weekend. Although inflation rates have dropped from the beginning of this year until now, shoppers are still feeling the effects of buying food.
Rates of inflation have dropped from 10% in April 2020 to 7% in April 2023, but they are still causing consumers to break their wallets when shopping for food.
District Economist Francisco Abello said Texas and the rest of America are still in a drought which has affected farmers hard and with cost of production high, those rates could be going back up.
“From the production point of view, yes we are going to have less production for 2023 and we’re probably going to have even less production in 2024. So when I look at it for the product, we are going to have less” District Economist of Vernon, Francisco Abello said.
Customers shopping this week could be looking to spend even more at big-brand stores due to the cost of food.
The owner of Davenports Superstore said it is providing its customers with lower prices than its competitors. This has allowed them to see an increase in business.
“Well, I can guarantee you that if you come out and shop with us, our prices are going to be better than anyone in 5 to 10 miles of what we have to offer to our consumer. We’re going to be able to do that because we do have the buying power we do have the accessibility to keep our prices that much lower than the competitors,” Davenports Superstore Owner, Ricky Lowe said.
Davenports will be implementing a new bulk deal for consumers. He said customers will be able to go and purchase up to 5% or more pounds of meat.
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