Jun 30, 2023 - Economy
July 4 to see record spending on food for cookouts
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Americans plan to spend an average of $93.34 per person on food items for Fourth of July cookouts, barbecues and picnics this year, according to an annual survey from the National Retail Federation.
By the numbers: That's up from last year's high of $84.12, as a larger number of people are now planning to host or attend celebrations this year, the trade group says.
- The roughly 10% increase is almost double food price inflation, which, according to the PCE price index out on Friday, was 5.8% as of May, suggesting higher intent to spend.
Zoom in: The top food categories consumers plan to buy are hamburgers (83%), hot dogs/pork or beef brats (76%), chicken (52%), and vegetables (45%).
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