That Fourth of July cheeseburger you’re planning to grill will cost you more this year.
According to the USDA Economic Research Service, the average cheeseburger Americans will serve at their Fourth of July cookouts in 2023 will cost 10 cents more than it did in 2022.
In May 2023, the ingredients for a home-prepared quarter-pound cheeseburger totaled $2.17 per burger, an increase of 10 cents (4.9%) from 2022.
RISING COST: USDA ERS reports that the prices for cheeseburger ingredients grew more slowly over the year than prices for all groceries.
Prices for cheeseburger ingredients grew more slowly over the year than prices for all groceries (food at home), which rose 5.8% from May 2022 to May 2023.
Ground beef made up the largest cost of the burger at $1.24, and cheddar cheese accounted for 37 cents. Both of these items increased in price by 3.5% between 2022 and 2023 and together accounted for half the increase in costs.
Bread prices rose the fastest, by 21.5%, and added 4 cents to the cost of a burger between 2022 and 2023. Tomato prices fell slightly over the year, but an increase in lettuce prices added 1 cent to total costs. USDA ERS tracks aggregate food category prices and publishes price forecasts in the Food Price Outlook data product, which was updated June 23.
Source: USDA ERS contributed to this article.
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