Anyone looking to add cheese to that burger or scarf down a second hot dog at their Fourth of July picnic may want to think twice, thanks to (at least) one uninvited guest: inflation.
The average price of a 10-person Fourth of July picnic is up 7.8% in the last year — it is close to $70 dollars now — after adjusting for inflation, according to an analysis of American Farm Bureau Federation data. And prices of many picnic staples, from lemonade to potato salad, are up from 7% to 36% over the year before.
But there’s good news for bakers: An NBC News analysis of apple pie ingredients (with ice cream, please) found the typical homemade pie has essentially held steady over the last year, and is actually cheaper than a decade ago when adjusted for inflation.
Hot dog prices, however, have remained costly. The per-pound price of the common frankfurter surged in 2021 and has stayed elevated since, part of a general rise in meat prices. A pack of hot dogs could cost you more than $5 this holiday weekend.