Why Your Memorial Day BBQ Could Cost More Than Ever
Rising inflation has hit consumers hard over the past few months, particularly when it comes to the price of food and groceries — and, as a result, 2022's Memorial Day celebrations may cost you more than last year's festivities.
According to the Bureau of Labor Statistics, the overall price of goods increased by 8.3% during the 12-month period between April 2021 and April 2022. Specifically, food prices saw a surge of 9.4%.
The increase in food costs can be attributed to many factors, such as supply chain issues, the war in Ukraine, labor shortages, and extreme weather events due to climate change, reported Politico. To examine how inflation is impacting Americans' food costs in a tangible way, the news outlet examined each ingredient required to make a cheeseburger — and how the costs of those ingredients have changed over the past year. Though their report was published in April, its concerns remain just as relevant with Memorial Day (and its celebratory backyard barbecues) fast approaching.
How rising costs might affect your Memorial Day barbecue
According to Politico, almost every component of your cheeseburger will likely cost more than it did a year ago. As of March 2022, the price of bread (including buns) had shot up 7.1% since the year prior. Meanwhile, lettuce crops in California and Arizona are facing environmental stress, including drought conditions in some areas and unusually frigid temperatures in others — resulting in a 12% price increase between March 2021 and March 2022. And let's not forget the centerpiece of any burger: the meat. Per Politico, the price of beef skyrocketed by 16% during the 12-month period ending in March 2022.
It's not just burgers that are going to be pricier. According to Yahoo Finance, a pack of hot dogs will run you $5.22 in 2022 — compared to just $3.81 in April 2021. Moreover, if you're using a propane grill to make your meal, you're likely in for some additional costs. Per Yahoo Finance, the price of gas used for grills (and transportation fuel) is 43.6% higher than it was last year.