Get Ready to Fork Over More for Your July 4 BBQ
The Fed may tell you inflation is under control. And by most measures, it is. But don’t tell that to the millions of people who are planning to celebrate America’s Independence Day with a barbecue. FOX Business put together its own July Fourth bash, replete with classics like cheeseburgers, fun sides and, of course, beer. The tab will run you $70.60 for a party feeding about 12 people, a 2.7% jump from $68.73 last year. Meanwhile, hourly earnings have risen about 2% over the same time period, according to the Labor Department. The good news: Potato chips and American cheese are much cheaper this year than last. The bad news: Ground beef and chicken breasts are significantly more expensive. Here’s a look at the tab, compiled using Labor Department data from the month of May.