Burgers taking a bigger bite out of holiday barbecue budgets

Like pretty much everything else, Fourth of July cookouts will be pricier this year.

Ingredients for a home-prepared quarter-pound cheeseburger ran $2.07 in May, with ground beef accounting for $1.20 and cheddar cheese 35 cents, according to the U.S. Department of Agriculture. That's 11.3% higher than the $1.86 it cost for the same burger last year, the USDA said.

The retail price of ground beef is up 16.9% from 2021, and accounts for 17 cents of the added cost, while cheddar cheese and bread costs each rose about 1 cent per burger. The price of iceberg lettuce has jumped 23.3% from a year ago, but adds only 2 cents to the total, according to the agency.