July 4 Barbecue Costs Climb to Record

Photo Credit: Bloomberg Rising prices for beef, ice cream and lettuce mean Americans will spend the most ever for Fourth of July barbecues this year.

The CHART OF THE DAY shows an index tracking U.S. retail prices for seven foods commonly consumed while grilling climbed 5.1 percent in May from a year earlier to the highest ever for the month, the latest data from Bureau of Labor Statistics show.

Independence Day is the most popular time of the year for Americans to cook outdoors, according to the Hearth, Patio & Barbecue Association. The holiday falls on a Friday this year, increasing chances that revelers will keep celebrating into the weekend. Prices for ground beef are 16 percent higher than a year earlier, while ice cream climbed 1.7 percent and tomatoes soared 12 percent, government data show.

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