July 4th will be 17% More Expensive This Year

The classic July 4th cookout complete with cheeseburgers, chicken and potato salad — will cost Americans much more this year.

Amid record inflation, most Fourth of July staples have seen an increase in price over last year, with food prices up as much as 36%, according to a recent survey from the American Farm Bureau Federation.

The Consumer Price Index, a key gauge of inflation, accelerated by 8.6% from a year earlier in May, the fastest pace in over 40 years.

The average cost of a summer cookout for 10 people this year is $69.68, up 17% from 2021, according to the survey. Ground beef saw the biggest increase in price, rising 36% from a year ago.  Boneless, skinless chicken breast, pork chops, and pork and beans also saw price increases of over 30% in one year.

Overall, consumers can expect to spend 17% more on food for a barbecue this year, marking the biggest increase since the lobbying organization began tracking data a decade ago.

Source: Axios