Inflation, looking at a broad swath of consumer goods, is in check and could even stand to rise a bit to support more robust economic growth.
But for Americans throwing Memorial Day celebrations, it probably won't feel that way. That's because the prices of beef, pork and chicken products -- which tend to be the priciest items at a barbecue on a dollar basis -- are rising at a far faster pace than salaries. The surge has come on the back of a veritable perfect storm of supply and demand issues that has pummeled the U.S. protein supply chain.
FOX Business put together a virtual Memorial Day bash using data from the Labor Department. The first big grilling party of the year features classics like bacon cheeseburgers, potato chips and beer, along with less traditional offerings, like grilled chicken.
The celebration for about a dozen people will run you $87.14, up 5% from $83.17 last year. Take a look, and definitely tweet your comments and suggestions at @adamsamson using the hashtag #FBNMemorialDay.
Cost: $39.80 (+12% from 2013)
Ingredients: Four Pounds of Ground Beef, Two Pounds Bacon, Two Pounds of American Cheese and Two Pounds of White Bread, One-And-A-Half Pounds Romaine Lettuce
Ground Beef: $3.81 per pound (+17% from 2013)
Bacon: $5.69 per pound (+16% from 2013)
American Cheese: $4.54 per pound (+10% from 2013)
White Bread: $1.39 per pound (-1% from 2013)
Romaine Lettuce: $0.90 per pound (-8% from 2013)
2Chicken Breast with Fire Roasted Tomatoes
Cost: $18.43 (+6% from 2013)
Ingredients: Four Pounds Boneless Chicken Breast, Three Pounds Field Grown Tomatoes
Boneless Chicken Breast: $3.39 per pound (+4% from 2013)
Field Grown Tomatoes: $1.62 per pound (+11% from 2013)
Cost: $8.84 (-8% from 2013)
Ingredients: Two 16 Ounce Bags
Potato Chips: $4.42 for a 16 ounce bag (-8% from 2013)
Cost: $10.02 (-2% from 2013)
Ingredients: Two Half Gallon Containers
Ice Cream: $5.01 per half gallon (-2% from 2013)
5Ice Cold Beers
Cost: $10.65 (+1% from 2013)
Ingredients: Eight 16 ounce beers.
Beer: $1.33 per 16 ounce bottle (+1% from 2013)