An average cookout will now cost 17% more than last year. The most recent consumer price index shows that prices rose 8.6% in May from 12 months ago.
Americans had an expensive Memorial Day weekend as well with record gas prices and high food prices.
Like consumers, farmers are also suffering under inflation.
“Despite higher food prices, the supply chain disruptions and inflation have made farm supplies more expensive; like consumers, farmers are price-takers not price-makers,” American Farm Bureau Federation Chief Economist Roger Cryan said.
“Bottom line, in many cases the higher prices farmers are being paid aren’t covering the increase in their farm expenses. The cost of fuel is up and fertilizer prices have tripled,” he explai