CNBC: Here’s Why Your July 4th Barbecue May be Pricier This Year

Americans firing up their grills for Fourth of July celebrations will likely pay more for some traditional barbecue staples this year.

That’s largely due to inflationary pressures in the U.S. economy and supply shocks related to specific foods such as beef and lemons, according to agricultural economists.

The average cookout for 10 people will cost $71.22 this year, up 5% from 2023 and up about 30% from five years ago, according to an American Farm Bureau Federation estimate.

The group analyzed prices for ground beef, chicken breast, pork chops, cheese, hamburger buns, homemade potato salad, potato chips, chocolate chip cookies, ice cream, strawberries, pork and beans, and lemonade.

Ground beef and lemonade are the items for which Americans will see the biggest price increases for an Independence Day barbecue, according to Bernt Nelson, a Farm Bureau economist.

Two pounds of ground beef cost $12.77, on average, up 11% from 2023, according to the group’s analysis.

That’s largely due to low beef supply. The overall cattle inventory is the smallest it’s been in 73 years, and the amount of red meat in cold storage is at its lowest in more than two decades, according to the Farm Bureau.

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