Your Memorial Day barbecue will be 10% more expensive than it was last year thanks to inflation
Americans preparing to fire up the barbecue grill this Memorial Day weekend will pay 10% more than they did last year for their cookout items as inflation continues to batter the economy, according to a report.
The average cost to welcome the unofficial start of summer jumped to $30 — compared to $27 in 2023, .
A Consumer Affairs report came to a similar conclusion, noting that seven essential items for a routine cookout — burgers, hot dogs, buns and condiments — came to a total of $30.18, compared to $27.39 in 2023.
The soaring price oꦚf burgers was the biggest factor in the ju🦩mp.
An order of eight burgers costs $8.07 — 15% higher than last year, according to Consumer Affairs.
Burger and hot dog buns went up 1% to $3.06 and $🃏3.09, respecti൩vely.
The price of❀ eight all-beef hot dogs stayed th🦹e same, at $3.15, but condiments are more expensive this year.
A 32-ounce bottle of ketchup costs $5.53, a 2% increase from a year ago, while a 20-ounce bottle of mustard is $2.61 — up 3%.
Meanwhile, a 26-ounce jar of of relish increased by a whopping 49% to $4.67, due to a pickle shortage caused byꦆ extreme weather in Mexico.
Having a cold beer to wash it all down — while not part of the Memorial Day basket of goods factored into the Consumer Affairs report — jumped 3% compared to last year, according to the Labor Department’s Bureau of Labor Statistics.
Soda prices rose 4.1%.
Since President Joe Biden took office in January 202▨1, grocery prices have increased b♉y more than 21%.
The latest consumer price index from April showed that steaks were 6.5% more expensive compared to a year ago while the price of 🥀ground beef rose 6% from last year.
Other popular barbecue items also cost more.
Pork is 1.2% more exp𒅌ensive than it was last year, while pork chops cost 1.7% more. The price for a whole chicken rose 3%.
Canned frui🐼ts and vegetables increased by 3.5% year over year while fro💮zen non-carbonated juices and drinks were up a whopping 29.2%.
Overall, food inflation was 3.4% higher year-over-year in April, w♊hile groceries were 2.2% more expensive than they were in 2023.
US households in March spent $227 more for goods and services than th🥀ey did in the same𝓰 period last year.
Co෴mpared to two years ago, Americans are paying on average $784 more each months compared to two years ago and $1,069 more compared to three years🐎 ago.
While the ꩵrate of inflation has slowed somewhat, food could become even costlier in the months ahead.
Extreme weather in Aus🤡tralia, Russia and Brazil has negatively impacted the harvest of key crops such as wheat, coffee, rice, cocoa and oranges.
Chicago wheat futures were nearing their highest totals since last July while Arabica coffee prices recorded their largest weekly gain since🔯 April,
The upturn in the crop index is stoking fears that key staple items such as bread, coffee and fruit will be evﷺen more expensive in the near term.
The Federal Reserve imposed a tight monetary policy, hiking interest rates to record leve🉐ls in hopes of getting inflation closer to its goal of 2%.
The slow rate at which inflation has been cooling has prompted Fed officials to have second thoughts about slashing interest r🅷ates this year.
