By Kristin Myers, Editor-in-Chief

ICYMI: Inflation Makes July 4th BBQs 7% More Expensive

In case you missed it, soaring inflation will make your July 4th barbecues 7% pricier than last year, as the cost of chicken wings and other barbecue meats spike, according to The Balance's analysis of the latest inflation figures from the Bureau of Labor Statistics' Consumer Price Index and USDA MarketNews Retail data. Of all the items analyzed, chicken wings have increased the most in price, jumping 54% since last year to nearly $4 a pound.

Other meats are also getting more expensive, as steak, hotdogs, and hamburgers all cost 10% or more compared to last year.

But it won't just be the food on the grill that will cost you more this year. Propane for your barbecue has jumped 26% in price, costing more than $3 a gallon. With standard grills taking 20-pound tanks that hold up to 4.6 gallons of propane, just turning the flames on to cook food this year will be costly.

For grill masters looking to save, there are some items on the grocery list that will cost you less this year than they did in 2021. Ribs have dropped 2% in price in 2022, to $2.90 a pound making it the cheapest food item of all the products analyzed by The Balance. And if you're looking to drink an alcoholic beverage this holiday, wine has seen smaller increases in price compared to beer or spirits.

-Kristin

Programming Note: The Balance Today team will be taking a short break in observance of the Fourth of July holiday in the U.S., and there won't be any newsletters tomorrow or on Monday, but we'll be back in your inbox on Tuesday.

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Off the Charts

Your state might be sending you an inflation relief check. Sixteen state governments have sent out, approved, or are considering payments to residents to help them cope with the rapidly rising cost of living. The relief measures range from a $75-per-person tax rebate in Idaho to direct payments of up to $1,050 per household authorized this week by California governor Gavin Newsom. The direct payments are to help people cope with soaring prices for groceries, gasoline, and other necessities amid the highest inflation in more than 40 years.