July 4, 2022
Academic Minute recently published a podcast featuring insight from Jay Zagorsky, Senior Lecturer of Markets, Public Policy, and Law, on the growing use of fireworks in the United States.
Most Americans know the days around the Fourth of July to be the most popular for fireworks. Though rising inflation has made fireworks more expensive, this seasonal business remains just as popular as ever.
“Last year in 2021, the average wholesale price for imported fireworks was $1.13 a pound. During the beginning of 2022, the price has jumped to $1.30 a pound. This 15% price increase is almost twice the U.S. inflation rate.”Jay Zagorsky
With more Americans choosing to light off fireworks this year than ever before, however, inflation doesn’t seem to be taking a toll on the industry or on the enjoyment of this Independence Day pastime.