Paulo Rodredo (left) and Ney Santos of Philadelphia at the grill on July 4, 2020. Photo: Ben Hasty/MediaNews Group/Reading Eagle via Getty Images
The classic July 4 cookout — complete with cheeseburgers, chicken and potato salad — will cost Americans much more this year.
The big picture: 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 details: The average cost of a summer cookout for 10 people this year is $69.68, up 17% from 2021, according to the survey, which pointed to supply chain problems, inflation and the war in Ukraine for the increase in prices.
- 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.
But not everything will be more expensive this year. Per the survey, the price of strawberries — and sliced cheese — went down by 16% and 13%, respectively.
Go deeper: U.S. inflation rate is in the middle of the pack globally