July 4th cookout costs sizzle with tariff pressures
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Tariffs and trade tensions are pushing up the cost of summer cookouts, including Independence Day barbecues, Democratic lawmakers warn.
Why it matters: Cookout costs increased at a 12.7% annualized rate since President Trump announced the "Liberation Day" tariffs, analysis by the Joint Economic Committee's minority arm found.
By the numbers: Ground beef and ice cream hit their highest prices on record since the 1980s, the analysis found citing Consumer Price Index data.
- Miller Lite and Coors Light six-packs are up more than 13% at Walmart since Liberation Day and through June 26, per the report.
- Imported beer prices also rose with Peroni increasing 10.5% and Modelo Especial 9.5%.
- Cookout essentials like aluminum foil, grill tools, and sunscreen saw hikes between 6% and 18%.
Yes, but: Different analysis yield different results, while also looking at varying items.
- The Rabobank Barbecue Index found the 10-person barbecue cost 4.21% more than last year.
- The America Farm Bureau's annual survey found cookout staples for a 10-person meal declined less than 1% from last year's record high but are 19% higher than five years ago.
- Wells Fargo Fourth of July report estimates a 2.2% increase over last year for the holiday cookout.
The intrigue: 32% of Americans are swapping barbecue for pizza this Fourth of July, according to Empower's survey of 2,200 people.
- 68% of those surveyed said barbecues are noticeably more expensive to host this year with 55% noting tariffs are making holiday celebrations more expensive.
What's next: The congressional report warns of more increases for canned goods, including beer, which are being hit by 50% tariffs on steel and aluminum.
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