BALTIMORE — Many people will be gathering with friends and family today for a backyard barbecue, pool party, or picnic, but the cost of hosting a Memorial Day get-together is a lot more expensive this year.
Instead of B.Y.O.B. for “bring your own beer,” people soon might start saying “bring your own burgers.” Overall prices on food are 9.4% higher this year. When it comes to the basics people will be serving on the holiday, meat, poultry, and fish, those grocery bills are 14.3% more expensive.
Everyone has their favorites for a memorial day cookout. Whether it's grilling hamburgers and hot dogs or baby back ribs and steaks, just about everything on the menu comes at a higher price.
The latest Consumer Price Index shows overall inflation is up 8.3%, meaning the price of goods and services is 8.3% more that what consumers would have paid a year ago.
Food prices have been surging even higher.
Prices are way up on the staples many people will be serving at their backyard barbecues.
Ground beef for burgers is 14.8% more expensive this year.
Hamburger buns are 10.1% more expensive.
Cheese to put on a burger costs 6.5% more this year than last year.
Hot dogs cost 6.9% more this year.
It will cost nearly 11.8% more to hear those steaks sizzling on your grill and 13.1% more to smoke some ribs.
Even soda cost more this year than last year. Soft drinks are 9.2% more expensive.
With graduation parties and the Fourth of July coming up, many experts believe consumers can expect to continue to pay more on food prices throughout the summer.
