If you plan on shopping for fireworks for the Fourth of July, brace yourself for sticker shock of 25 to 30%, one fireworks CEO told Axios.
Driving the news: There has been an “unprecedented demand” for backyard fireworks since 2020 when many cities and towns first canceled professional shows because of COVID, said Julie Heckman, executive director of the American Pyrotechnics Association.
By the numbers: A key gauge of inflation accelerated by 8.6% from a year earlier in May, the fastest pace in 40 years, Axios’ Courtenay Brown writes.
State of play: Despite shipping delays and increased costs, there is more inventory this year than in the past two years, Bruce Zoldan, CEO of Ohio-based Phantom Fireworks, told Axios.
What they’re saying: Zoldan said the price increase and inflation could impact sales.
What's next: While some shoppers started buying their fireworks in May, Zoldan said the average buyer hasn't shown up yet. Father's Day weekend usually kicks off the busiest firework shopping season, he added.