Wells Fargo Puts Summer BBQ for 10 at $161 as Hamburger Beef Jumps 14%
Updated
Updated · Fox Business · Jun 12
Wells Fargo Puts Summer BBQ for 10 at $161 as Hamburger Beef Jumps 14%
2 articles · Updated · Fox Business · Jun 12
Summary
$161 is now the average cost to host a summer barbecue for 10 people, or about $16 per guest, with total cookout costs up 2.4% from a year earlier, Wells Fargo said.
Beef is driving much of the increase: hamburger meat prices rose 14%, while hot dogs climbed 5% and chicken and pork increased 3%, leaving cheaper proteins still more expensive than last summer.
Prepared foods are adding another layer of inflation, with potato salad up 3%, pre-cut vegetable trays carrying a $7 premium and fully cooked ribs costing $4 more per pound than raw ribs.
Some items are offering relief, including eggs down 14% and watermelon and strawberries down 3%, as Wells Fargo said fresh produce prices could ease with higher summer supply.
The report tracks with broader inflation pressure after May CPI rose 0.5% on the month and 4.2% from a year earlier, the highest annual rate since April 2023.