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- Summer sticker shock: The 14% ‘burger tax’ hitting your backyard BBQ this we...
Hard-working Americans looking to fire up the grill this weekend are facing major sticker shock before they even light the charcoal.As inflation continues to squeeze household budgets, the newly released Wells Fargo summer BBQ food report reveals that hosting a standard summer barbecue for 10 people has climbed to an average of $161 — or about $16 per person.While total cookout costs are up 2.4% year over year, the real pricing pain is hiding right on the meat tray: the quintessential American hamburger beef has skyrocketed by 14%."Regarding food inflation, price increases this season will really depend on the category. For fresh fruits and vegetables, we anticipate some relief as summer unfolds. Growers are motivated by higher prices to plant more acreage, so increased supply should help moderate price hikes and may actually offer consumers a bit of a break," Wells Fargo Agri-Food Institute head Robin Wenzel told Fox News Digital.WALMART WARNS SHOPPERS COULD FACE HIGHER PRICES AS FUEL COSTS SURGE, TAX REFUNDS DRY UP"However, for those who value convenience and opt for prepared foods, expect prices to edge up," she warned. "These items are driven more by labor, packaging and energy costs than the underlying commodities themselves. As consumers continue to pay for convenience, retailers are able to maintain their margins with higher pricing."Though burgers are taking the biggest hit from inflation, so are other grilling favorites. Chicken and pork products rose 3% from the previous year and are seen as the "cost-friendly" option, while hot dogs and frankfurters are up 5%.Ready-made sides like potato salad are up 3% because of higher manufacturing wages being passed on to consumers, the report notes. Other favorites like cornbread are up 4%, raw vegetables are up 6%, and if you’re saving room for dessert, sweet-treat prices have increased anywhere from 1% to 4%.The higher price tags fall in line with the May consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – which rose 0.5% in May and 4.2% from a year earlier. The annual figure is the highest since April 2023.Pre-made grocery store shortcuts can be a budget-buster during the summer, as buying a pre-cut vegetable tray adds a $7 premium to your bill, while buying fully cooked, pre-packaged ribs costs $4 more per pound than buying them raw."Hosts can save by preparing ribs from scratch, allowing a bit more room to indulge… [TheTopNews] Read More.1 hour ago - Wages Are Falling. Wealth Is Surging. No Wonder Americans Are Unhappy.
As Elon Musk became the world’s first trillionaire, workers are facing higher prices and fears of A.I.-driven job losses. [TheTopNews] Read More.3 hours ago - Mega I.P.O. Frenzy Could Be a Harbinger of a Stock BubbleRampant enthusiasm is buoying tech shares to levels that defy gravity. Invest with caution, our columnist says. [TheTopNews] Read More.3 hours ago
- Despite US Help, Little Oil Has Gone Through Strait of HormuzPresident Trump said more than 200 commercial vessels had safely traveled through the strait. That’s still far fewer than before the start of the war. [TheTopNews] Read More.3 hours ago
- Mark Zuckerberg admits Meta has ‘made mistakes’ as AI overhaul resha...Meta CEO Mark Zuckerberg acknowledged Friday that the company has "made mistakes" as it undergoes a sweeping workforce overhaul tied to its aggressive push into artificial intelligence (AI).Zuckerberg made the remarks in an internal memo to employees, according to Reuters, which reported that the Meta chief warned of challenges associated with the rapid development of AI technology.Meta has poured billions of dollars into AI infrastructure and tools as it competes with OpenAI, Google and Microsoft for dominance in the emerging technology.The company has also explored ways to use AI agents to perform tasks currently handled by employees.MARK ZUCKERBERG SAYS META HAS 'MADE MISTAKES' DURING ITS AI-DRIVEN WORKFORCE OVERHAUL, WARNING OF CHALLENGES TIED TO THE RAPID DEVELOPMENT OF ARTIFICIAL INTELLIGENCE."Given the complexity of these changes, we've made mistakes and will almost certainly make more," Zuckerberg said.He added that he is "focused on providing as much stability as possible" as the company continues to reshape its workforce."I don't want to overpromise because the world is changing in ways that are out of our control," Zuckerberg said.META LAUNCHES $115M SKILLED TRADES ACADEMY WITH GUARANTEED JOBS FOR GRADUATES IN 4 STATESHe also reiterated that Meta does not expect any additional company-wide layoffs this year.The comments come after Meta laid off roughly 10% of its global workforce in May and reassigned approximately 7,000 employees to AI-focused initiatives.Zuckerberg reportedly said the company will attempt to find new positions for employees reassigned to train AI models.AMERICA CAN'T COMPETE WITH CHINA IN AI WITHOUT THESE WORKERS, META'S PRESIDENT SAYS"By creating important new roles for people, this also allowed us to shrink the size of teams knowing that if we make mistakes in some places, then we could transfer some people back," Zuckerberg said.GET FOX BUSINESS ON THE GO BY CLICKING HEREAccording to Reuters, the restructuring — combined with previous transfers and role eliminations — is expected to ultimately affect about 20% of Meta’s workforce.Meta employed nearly 78,000 people as of the end of March, according to company securities filings.FOX Business has reached out to Meta for comment.FOX Business' Bradford Betz and Reuters contributed to this report. [TheTopNews] Read More.9 hours ago
- Frozen pizza snack recall hits 21 states over possible metal contamination in pr...Thousands of cases of a frozen pizza snack sold in 21 states are being recalled because they may contain metal pieces.Rich Products Corp. voluntarily issued the recall of 6,408 cases or more than 160,000 pounds of its Farm Rich Pizza Cheese Crunchers, according to the U.S. Food and Drug Administration.The pizza was sold in Alabama, Arkansas, California, Florida, Georgia, Indiana, Iowa, Kansas, Kentucky, Maryland, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Wisconsin.FORD RECALLS MORE THAN 255,000 VEHICLES OVER ENGINE STALL RISKThe recall was initiated by the New York-based company on May 19.The product has a best-by date of July 7, 2027, with a UPC code of 041322652256 and a lot number of 003029976.MORE THAN 17K COFFEE MAKERS RECALLED AFTER DOZENS OF REPORTED BURN INJURIES. The FDA classified the recall as a Class II health risk, which means the defect could cause temporary or medically reversible health problems.The agency didn't specify if any injuries had been reported or how the possible contamination was discovered. The recall comes weeks after another frozen pizza recall over salmonella concerns.The pizzas, which spanned several brands, had been sold at Walmart and Aldi. [TheTopNews] Read More.10 hours ago
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