Fourth of July cooking costs hit record high as inflation rises 4%

The ‘Big Money Show’ discusses President Donald Trumps economic growth forecast as new data shows strong GDP growth and the highest PCE inflation reading since 2023.
Americans preparing to hold Fourth of July barbecues 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 equates to an increase of $2.90, or 4% compared to last year.
The basket of goods used to measure costs each year includes cheeseburgers, chicken breasts, pork chops, potato chips, pork and beans, fresh strawberries, homemade potato salad ingredients and freshly made lemonade, as well as chocolate chip cookies and ice cream.
“While this year’s total is the highest since the Farm Bureau began conducting its summer cooking survey in 2016, this increase reflects broader inflation,” the group wrote.
INFLATION RETURNED IN MAY AS RISING ENERGY PRICES PUSHED CONSUMERS.
Fourth of July barbecue prices have risen to their highest level since the American Farm Bureau Federation began tracking them. (Ben Hasty/MediaNews Group/The Reading Eagle via Getty Images)
“Cooking basket prices rose nearly 4%, while inflation in the United States rose 4.2% in 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 cooking costs tend to be in line with the broader economy.”
The report noted that basket costs were little changed from the previous year when deflated using the inflation index (CPI) metric, with this year’s basket costs at $22.03 in 1982–84 dollars, slightly lower than the $22.06 seen using the previous year’s data.
That means “even though households are paying more dollars at checkout, the basket’s purchasing power costs have nearly disappeared from last year,” the Farm Bureau added.
Among the food items in the basket, the report noted that several key proteins cost more, as two kilograms of ground beef rose 5.5% to $14.06, the highest beef price recorded in the study’s history. The drought has caused the size of the national cattle herd to drop to a 70-year low, and ranchers are also facing higher operating costs.
SUMMER SHOCK: 14% ‘BURGER TAX’ HITS YOUR BACKYARD BBQ THIS WEEKEND

The increase in the price of beef contributed to the increase in the cost of cooking on the Fourth of July. (Stock)
Chicken breasts are also up 3.5% from last year, with two pounds now costing $8.06. The cost of pork also increased by 4.7% to $ 14.79 per three kilograms, although it remains below the price of 2024 despite this year’s increase.
Strawberries had the biggest price increase in the basket of goods, with two pints costing $5.27, a 12.4% increase from last year. The Farm Bureau attributed that in part to a damaging frost in Florida that affected young crops this spring, as well as higher costs of labor, fuel, refrigeration and transportation.
Lemonade costs rose 3.9% last year to $4.54 for 2.5 quarts, largely due to higher lemon prices, given sugar prices held firm.
The biggest increase of any item in the basket was pork and beans, which rose 13.8% to $3.06 for 32 ounces. The Farm Bureau noted that higher aluminum costs contributed to the increase.
BANK OF AMERICA CARDHOLDERS CAN VISIT 250 MUSEUMS FOR FREE THROUGH JULY 4TH WEEKEND.

The cost of ice cream is up more than 5% from last year. (Getty Images)
Desserts were also more expensive than last year. The price of a package of chocolate chip cookies rose 6.3% to $4.25, while a pint of ice cream rose 5.3% to $5.99 from last year.
Two items tracked by the Farm Bureau fell in price, with potato salad down 17.8% from a year ago to $2.91 amid lower egg prices and the recovery of egg-laying flocks from bird flu outbreaks.
Potato prices also contributed to the decline in both the cost of potato salad and bags of potato chips, which fell 0.8% from a year ago to $4.76 each.
The Farm Bureau analysis also noted that cooking costs vary by region, with Americans in the West facing the highest costs of $80 this year, which is $6 more than the national average.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The other three regions in the analysis were below the national average of $73.82, with the Northeast the cheapest at $71.35, followed by the Midwest at $71.45 and the South at $72.08.


