Inflation makes holiday weekend barbecues more expensive than ever: A not-so-happy Fourth of July

Firing up the grill this Fourth of July will burn a hole in wallets. The cost of feeding a party of 10 this Independence Day weekend is at a record high —  an average of $71.22 ($7.12 per person) driven up by the cost of meat, according to the latest statistics from the American Farm Bureau Federation. That’s 5% more than the 2023 summer grill session, which totaled $67.73, and 30% higher than in 2019, before the pandemic, the survey says. “Meat will put the biggest dent in your grocery budget.Ground beef, pork chops and chicken breast account for 50% of the total cookout cost, as we see changes in the pork and beef industries having a big impact on supermarket prices,” Farm Bureau economists said in the survey.

Indeed, beef prices have skyrocketed 11% from last year to an average of $12.77 for two pounds of ground beef, according to the American Farm Bureau. That’s because the overall cattle inventory is the smallest it’s been in 73 years, according to the Farm Bureau.Hamburger buns will also cost more bread – up 7% from last year, averaging $2.41 for one package, the data shows.Pork prices have also spiked 8% compared to last year, to an average of $15.49. The cost of fresh-squeezed lemonade may also be hard to swallow.

It’s up 12%, while ice cream is up 7%.“The increases in the cost of our cookout items reflect a number of broader economic factors,” Farm Bureau economists explained in the survey, noting: “General inflation has been highly disruptive to the whole economy, leaving behind many whose incomes haven’t kept pace.” The good news? Americans can expect to pay less for poultry.Chicken breasts this July 4 are averaging $7.83 for two pounds, that’s down 4% from 2023....