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- Fourth of July cookout prices hit record high as America celebrates 250th birthd...
Americans preparing to hold a Fourth of July barbecue this weekend will face higher costs for their burgers and hot dogs amid stubborn inflation, a new report finds.The American Farm Bureau Federation's Summer Cookout Cost Survey finds that in 2026, a classic Fourth of July cookout for 10 people will cost $73.82, or about $7.38 per person. That amounts to an increase of $2.90, or 4% compared with a year ago.The basket of goods used to measure the cost year to year includes cheeseburgers, chicken breasts, pork chops, potato chips, pork and beans, fresh strawberries, ingredients for homemade potato salad and fresh-squeezed lemonade, as well as chocolate chip cookies and ice cream."While this year's total is the highest since Farm Bureau began conducting the summer cookout survey in 2016, the increase closely reflects broader inflation," the group wrote.INFLATION ROSE AGAIN IN MAY AS ELEVATED ENERGY PRICES SQUEEZE CONSUMERS"The cost of the cookout basket rose about 4%, while overall inflation in the United States increased 4.2% over the 12 months ending in May," the Farm Bureau said. "That means families are seeing higher prices at the grocery store, but this year's cookout cost is generally moving in line with the broader economy."The report noted that the cost of the basket is little changed from a year ago when deflating the value using the consumer price index (CPI) inflation metric, with the cost of this year's basket at $22.03 in 1982-84 dollars, slightly lower than the $22.06 observation using last year's data.That means that "while families are paying more dollars at checkout, the purchasing-power cost of the basket is nearly flat from last year," the Farm Bureau added.Among the food items in the basket, the report noted that several of the main proteins cost more as the two pounds of ground beef are up 5.5% to $14.06, which is the highest beef price recorded in the survey's history. Drought has caused the size of the national cattle herd to trend to a 70-year low, while ranchers also face higher operating costs.SUMMER STICKER SHOCK: THE 14% 'BURGER TAX' HITTING YOUR BACKYARD BBQ THIS WEEKENDChicken breasts are also 3.5% more expensive than last year, with two pounds now costing $8.06. Pork chop costs also rose 4.7% to $14.79 for three pounds, though they remain below the 2024 price despite this year's rise.Strawberries had some of the largest price increases in the basket of goods,… [TheTopNews] Read More.2 hours ago - Shipping Traffic in Strait of Hormuz Picks Up Again
Vessels stranded for months have started moving in larger numbers, but many pulled back over the weekend after Iran and the U.S. exchanged attacks. [TheTopNews] Read More.2 hours ago - Oil Prices Hold Steady as Iran and U.S. Prepare for TalksIran and the United States were set for further talks after a spurt of hostilities had underscored the uncertainty surrounding attempts to strike a lasting peace deal. [TheTopNews] Read More.2 hours ago
- WhatsApp to let people chat by swapping usernames instead of phone numbers
The app's new usernames feature will be rolled out globally over the next few months. [TheTopNews] Read More.2 hours ago - How Grindr’s C.E.O. Adopted A.I.: ‘I Just Imposed It’George Arison, the gay dating app’s chief executive, is aiming for all code to be eventually written by artificial intelligence, making the company “leaner.” [TheTopNews] Read More.3 hours ago
- Medicare will start covering obesity drugs for the first time. Here’s what...
The move could unlock millions of new patients for Novo Nordisk and Eli Lilly and expand access to medications that were previously out of reach for seniors. [TheTopNews] Read More.3 hours ago
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