Hot dogs and hamburgers will cost you more this July Fourth

This Fourth of July, cookouts will be more expensive than ever before as everybody gathers for fireworks, food, and parades with friends and family.

Despite a significant decline from its peak of 9.1% in June 2022, inflation still exceeds the Federal Reserve’s 2% target, standing at 3.27% as of May. High inflation has put a significant financial strain on most households, with grocery prices rising over 21% since 2021.