As Americans plan their backyard barbecues for Fourth of July, new data shows some ingredients could set you back slightly, but experts shared tips on where to save with the best choices for the grill and beyond this holiday.
"Most folks won’t feel sticker shock this Fourth of July. Food prices are up just a touch, mainly because of beef and eggs, but overall, we’re close to what we’ve seen in the past," Dr. Michael Swanson, an economist at the Wells Fargo Agri-Food Institute, told "Good Morning America."
According to the Wells Fargo Agri-Food Institute annual report on Fourth of July food trends, people should expect to spend around $130 to host a group of 10 people, which is up 2.2% from last year.
That price tag closely mirrors some broader inflation trends, as seen in the latest Bureau of Labor Statistics Consumer Price Index that reported overall food prices are up 2.9% in the past year.
Meats, poultry, fish and egg prices have dipped 0.4%, while dining out is getting more expensive, according to the report.
So if you're looking to save money this holiday, home grilling is still the way to go.
Chicken Tops the Menu
While burgers on the grill remain a fan favorite, Wells Fargo said consumers may want to scale back as the cost of ground beef is up 7.4% over last year due to tight supply.
For a more wallet-friendly protein, consider chicken or hot dogs.
"Boneless barbecued chicken breasts are up just 1% thanks to ample supply and lower feed costs," the report stated, making chicken the MVP of the grill this year.
Hot dogs are also budget-friendly, only up less than 0.5%, especially if you avoid all-beef varieties. Plus, buns are a bargain with prices down nearly 1.5%.
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Produce Wins the Price War
Peak-season fruits and veggies offer both flavor and value. Watermelon and strawberry prices are slightly cheaper than last year -- down 0.6% -- and fresh broccoli, cauliflower and baby carrots all remain affordable.
Cherry tomatoes are up 3.7%, so opt for another varietal for any salad or appetizer.
Deviled egg fans might feel the pinch as egg prices are still up 40% from last year, largely due to lingering effects of the national bird flu outbreak.
Sweets and Sips
Good news for dessert fans: ice cream and baked goods are both mostly flat in price, just up 1.5% or less. A 1.5-quart tub of ice cream is up less than 1%.
As for drinks, beer and wine are up less than 2%, while sparkling water is up 4.7%. Look for promotions on multi-packs of drinks.
"Consumers will pay the price for serving those ready-to-drink alcoholic beverages," the report stated about popular canned cocktail drinks. "This can be an excellent option for friends and family to BYOB and contribute their favorite drinks to the party and help keep costs down."
Using the expert insights on what ingredients will cost this year, here are some ways to plan for a festive yet affordable cookout.
Choose chicken over beef for grilling — it’s the leaner and cheaper option.
Buy large-format drinks like liter sodas or wine bottles instead of cans and singles.
Shop your local farmers’ market for peak-season deals on fruit and produce.
Check for store promos on multi-pack sparkling waters or frozen desserts.
Go DIY on side dishes like cornbread and potato salad to avoid the markup on store-made versions.
Stick with classic hot dogs (non-all-beef) and sliders instead of full-sized burgers.
