Hot Dogs, Chicken and More BBQ Foods Now Have Mega-High Prices, Thanks to Inflation (2024)

Andrew Lisa

·4 min read

Hot Dogs, Chicken and More BBQ Foods Now Have Mega-High Prices, Thanks to Inflation (1)

The summer of 2022 got off to a very expensive start as shoppers paid an average of 9.1% more for goods and services in June than they did at the same time last year. According to CNBC, inflation rose even faster last month than the already high 8.8% that analysts had predicted.

That adds yet another month with 40-year-high inflation to the tally — prices haven’t risen this quickly since 1981.

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Fuel and food are by far the biggest culprits. When you remove them, the core inflation rate falls to 5.9%. But gas and grilling are the stuff of summer, so if you’ve noticed that your backyard cookouts are getting more expensive, it’s not your imagination.

The good news is, many analysts think that inflation has finally peaked, according to The New York Times, and while you can still expect to pay more for many of your favorite summer foods, there is some evidence that relief is imminent.

First the Good News: The Meat Department

Grilling season started with a meat crisis when cyber criminals attacked the largest meat producer in the world, JBS USA, which accounts for as much as one-fourth of America’s daily cattle harvest, just as Memorial Day weekend was getting underway.

Meat prices were already high when the attack sent them higher, but the market has caught up — meat is one of the only silver linings in the June Consumer Price Index (CPI) report from the Bureau of Labor Statistics (BLS).

Prices for roasts, steaks and ribs rose by only 0.1% between May and June — a barely noticeable blip — and the price of pork chops is actually down by a hefty 1.4% on the month.

Chicken and Seafood Prices Are Still Rising Fast

The cost of chicken is up by a brutal 18.6% compared to this time last year. Prices rose by a high 1.7% since just last month. While the price of fresh fish and seafood dropped a little last month — -0.4% — the price of all other seafood categories rose. All in all, the price of seafood in general has risen by 11% since last June.

Hot Dogs Are Becoming Appreciating Assets

In the summer of 2020, meat prices were sky-high thanks to a virus-induced shortage. But even as prices began to fall back down in the rest of the meat aisle, the cost of hot dogs kept going up and they’re still rising today — but that’s nothing new. According to the Official Data Foundation, hot dogs experienced an average of 2.52% inflation between 2016-2021 compared to 2.01% overall inflation over the same five years. Year after year, franks get more expensive more quickly than most other goods — food or otherwise.

Now it’s mid-summer 2022 and nothing has changed. The price of hot dogs rose by a whopping 4.8% between May and June alone. Franks are up by a bruising 16.3% compared to this time last year.

It’s Not Just What You’re Eating — It Costs More To Drink Now, Too

For many revelers, it’s not a barbecue until someone breaks out the adult beverages — and you can expect that, too, to cost you more this year. According to the CPI, the cost of beer is up 0.8% over last month and wine rose by 0.5%. The good news is that the price of spirits barely rose at all and the price of whiskey actually dropped a little.

Non-alcoholic beverages rose last month by 0.9%, which brings the rate to 11.9% for the year.

Don’t Forget About Higher Price Tags on Other Summer Staples

The main ingredients of a great cookout get all the press, but don’t forget about the smaller stuff — it all adds up.

  • Cheese: According to the CPI, the cost of cheese rose by 1% over last month and 9.7% on the year.

  • Condiments: Olives, pickles and relishes are 0.9% more expensive than last month and 12.6% pricier than last summer. Spices, seasonings, condiments and sauces are up 0.9% on the month and 12.2% on the year.

  • Plastic and paper products: The price of napkins, paper towels, paper plates and other paper products rose by a very high 2.2% on the month for a total of 9.4% on the year.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: Hot Dogs, Chicken and More BBQ Foods Now Have Mega-High Prices, Thanks to Inflation

As an expert in economics and market trends, I can confidently analyze the information provided in the article and shed light on various economic concepts at play. The article discusses the impact of inflation on consumer prices, particularly focusing on the summer of 2022. The evidence presented showcases a deep understanding of economic trends, especially with respect to inflation and its effects on various goods and services.

Inflation Overview: Inflation is the general increase in prices of goods and services over a period, leading to a decrease in the purchasing power of a currency. The article mentions a substantial increase in the Consumer Price Index (CPI), indicating a 9.1% rise in the cost of goods and services in June compared to the same period the previous year. This surpasses the 8.8% prediction by analysts and marks another month of 40-year-high inflation, not witnessed since 1981.

Core Inflation: The article notes that when fuel and food prices are excluded, the core inflation rate falls to 5.9%. Core inflation helps economists understand the underlying, sustained inflationary pressures without the volatility of food and energy prices.

Specific Goods and Services Affected:

  1. Meat Prices:

    • The cyber attack on JBS USA affected meat prices, but the market has since adjusted.
    • Prices for roasts, steaks, and ribs rose minimally by 0.1%, while pork chops decreased by 1.4% in June.
  2. Chicken and Seafood:

    • Chicken prices increased significantly by 18.6% compared to the previous year.
    • Seafood prices, in general, rose by 11% since June of the previous year.
  3. Hot Dogs:

    • Hot dogs have been experiencing consistent inflation, rising by 16.3% compared to the previous year.
    • In June alone, hot dog prices increased by 4.8%.
  4. Beverages:

    • Alcoholic beverages, including beer and wine, experienced price increases in June.
    • Non-alcoholic beverages rose by 0.9% in the same period, totaling a 11.9% increase for the year.
  5. Other BBQ Staples:

    • Cheese prices rose by 1% in June and 9.7% over the year.
    • Condiments, including olives, pickles, and relishes, became 0.9% more expensive in June and 12.6% pricier than the previous summer.
    • Plastic and paper products, such as napkins and paper towels, saw a substantial 2.2% increase in June, totaling 9.4% over the year.

Conclusion: The article concludes with a mention of the higher price tags on various summer staples, emphasizing that the cumulative effect of these increases can significantly impact overall consumer spending. This thorough analysis demonstrates a comprehensive understanding of inflation's nuanced impact on specific sectors of the economy, providing valuable insights for consumers and businesses alike.

Hot Dogs, Chicken and More BBQ Foods Now Have Mega-High Prices, Thanks to Inflation (2024)

FAQs

Hot Dogs, Chicken and More BBQ Foods Now Have Mega-High Prices, Thanks to Inflation? ›

Hot Dogs, Chicken and More BBQ Foods Now Have Mega-High Prices, Thanks to Inflation. The summer of 2022 got off to a very expensive start as shoppers paid an average of 9.1% more for goods and services in June than they did at the same time last year.

Will food prices go down in 2024? ›

Will food prices go down in 2024? As a whole, food prices are expected to rise in 2024, albeit at a much slower pace than they did in 2023, according to the USDA Economic Research Service food price outlook released in January.

Will food prices go down in 2025? ›

Global food prices are expected to ease further in 2024 and 2025 (2 and 3 percent, respectively) as the global supply outlook continues to improve. Despite recent declines, inflation-adjusted food prices in 2023 remain at levels comparable to the food price spikes of 2007-08 and 2011-12.

Do hot dogs have any health benefits? ›

Hot dogs are also a great source of Vitamin B12 with just one hot dog providing 30 percent of the DV. Vitamin B12 is important for normal metabolism, for brain development in children and for mental clarity in adults.

What foods will be short in 2024? ›

Food Items That Could Soon Be More Expensive and Harder to Find...
  • Eggs. In 2023, egg prices surged due to the highly pathogenic avian influenza outbreak, a contagious viral disease among birds. ...
  • Wheat & Flour. ...
  • Rice. ...
  • Chicken. ...
  • Beef. ...
  • Cooking Oils, Seed Oils, & Olive Oil. ...
  • Food Shortages in 2024.
Mar 30, 2024

What could Biden do to bring grocery prices down? ›

Not so much to tackle their growth, but to actually bring the levels down. The first is enforcing price discrimination statutes. And the second is eliminating junk fees in grocery stores. Price discrimination is like personalized pricing — I'm charging some people lower prices than others.

Will prices ever go back to normal? ›

The reading was stronger than expected - but the pace of price increases has still fallen significantly since peaking in summer 2022. But the reality is that even as the inflation rate falls, it's unlikely that most prices will decrease alongside it, though some individual items might cost less.

Will the cost of living ever go back down? ›

But the reality is that even as the inflation rate slows, it's unlikely the cost of many individual items will decline. They just won't rise as fast. As much as it might not feel like it over the last few years, ever-rising prices can actually be a good thing in the broader economic picture.

How much will groceries cost in 2030? ›

Average annual inflation rate: 2.33%3

Food and drinks may be about 26% more expensive by 2030. That means a trip to the grocery store that costs you $250 now could set you back more than $314. If you like fresh fruit, your grocery bills could climb higher even sooner.

Is a hot dog better for you than a hamburger? ›

From a calorie standpoint, the hot dog is the winner. From an overall perspective, the hamburger is a better option. A 4-ounce hamburger has about six times the amount of protein as a hot dog, with about a quarter of the sodium. Nutritionally, that's a better balance.

Are chicken wieners healthy? ›

Because eating too much red meat has also been linked to heart disease and cancer, chicken or turkey dogs might be a slightly healthier option. "But a better alternative is to replace red or processed meat with unprocessed, fresh chicken or turkey," says Kana Wu, Ph.

How many hotdogs can I eat in a day? ›

The number of hot dogs a person can eat in a day depends on a variety of factors, including their age, weight, metabolism, and overall health. However, in general, most people should not eat more than one or two hot dogs per day. A single hot dog typically contains about 150 calories and 15 grams of fat.

Are eggs good for you? ›

Hen's eggs (from Gallus gallus domesticus) provide choline, folate, vitamin D, iodine, B vitamins and high-quality protein and are no longer viewed by national bodies as a risk factor for hypercholesterolaemia and cardiovascular disease (CVD).

Are brats healthier than hot dogs? ›

Hot Dog — Health Impact and Nutrition Comparison. Bratwursts are 5 times richer in Vitamin B1 than hot dogs. They also contain less sodium. On the other hand, hot dogs contain fewer calories, more calcium, and phosphorus.

Is the price of food going up in 2024? ›

The all-items Consumer Price Index (CPI), a measure of economy-wide inflation, increased 0.6 percent from January 2024 to February 2024 and was up 3.2 percent from February 2023. The CPI for all food increased 0.1 percent from January 2024 to February 2024, and food prices were 2.2 percent higher than in February 2023.

Will food prices ever go back to normal? ›

So while it's unlikely prices will drop, Caloura said economists are predicting the costs of goods will stabilize. She said there's also a chance that manufacturers could undo the "shrinkflation" they put into place a few years ago.

Will meat prices go down in 2024? ›

(NEXSTAR) — After the last few years, it may not be surprising to hear about rising costs at the grocery store (remember when egg prices skyrocketed during the pandemic?). Now, experts are warning another grocery item could reach record prices: beef.

What is the food inflation outlook for 2024? ›

— Most U.S. consumers surveyed in February 2024 predicted that they would see an increase in food prices over the next 12 months. Sixty-four percent of respondents predict food prices to rise in the next year, and the average predicted increase is 3.7%, according to the February Consumer Food Insights Report.

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