4th of July cookout costs for us as inflation bites

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4th of July cookout costs for us as inflation bites

Americans are forking out over $10 more this year on their Independence Day barbecues, one year after the White House was lampooned for a tweet celebrating a 16 cent discount.

The White House was slammed last July after a report from the American Farm Bureau Federation said the average cost of a summer cookout was stable at $59.50 for 10 people, which was down 16 cents less than 1% from 2020, but 8% higher than in 2019.

The cost of 4th of July BBQ is down from last year, according to the Farm Bureau. The economic plan of Biden is working, and you must-hear d Hot dog. We can all relish that because it's something we can all relish. At the time of the White House s tweet, gas prices had already gone up more than $1 since President Joe Biden took office, and the Bureau of Economic Analysis reported that food prices were also on the rise. Former White House Press Secretary Jen Psaki mocked Biden's critics when he told Fox News Peter Doocy, I would say if you don't like hot dogs, you may not care about the reduction of cost. You don't have to like hot dogs. The White House is not celebrating this year. According to the Farm Bureau's latest report, U.S. consumers are paying $69.68 for their favorite Independence Day cookout foods, including cheeseburgers, pork chops, chicken breasts, potato salad, strawberries and ice cream.

Farmers are price-takers not price-makers, as consumers, AFBF Chief Economist Roger Cryan said in a press release that the supply chain disruptions and inflation have made farm supplies more expensive. In many cases, the higher prices that farmers are being paid aren't covering the increase in farm expenses. The cost of fuel is up and fertilizer prices have tripled. The consumer price index was rising by 8.6% in May, much higher than expected, and the consumer price index went up by 8.6% in May, according to the government earlier this month. It is the fastest pace of inflation since December 1981.

The consumer sentiment index released Friday showed that the U.S. plunged to 50 this month, a 14.4% drop from May and the lowest reading since the survey began in the late 1970s.

The rising prices have eaten away at Americans' earnings as inflation has outpaced wage gains for months, sparking recession concerns as households brace for faster price increases.