photo credit: AFBF Photo, Philip Gerlach
As we move into the heart of summer, Americans can expect to see the rising cost of food slow down slightly. After a record high in 2022, the food-at-home Consumer Price Index is only expected to rise 2.2% by this summer (2024), according to the U.S. Department of Agriculture.
Last year, a group of 10 could expect to pay $67.73 for a summer cookout. The cost included hamburger buns, cheese, ground beef, cookies, ice cream, strawberries, chips, chicken breasts, pork chops, pork and beans, lemonade and potato salad. With this year’s projected increase, that cost could be around $70.
“The slight downward direction in the cost of a cookout doesn’t counter the dramatic increases we’ve seen over the past few years. Families are still feeling the pinch of high inflation along with other factors keeping prices high,” said AFBF Chief Economist Roger Cryan.
With the cost of a cookout still relatively high, how can you pull off summer cooking on a budget?
Read more from the Penny Hoarder to learn how you can wow your guests and your wallet. You might even save some time and skip some stress too.
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