June 2024

Fourth of July parties will cost almost $100 this year as consumers seek value

Americans are still eager to spend on barbecues this Fourth of July, even if their wallets are a little stretched.Those hosting cookouts can expect to spend a little more. A barbecue index from Rabobank Group showed that a 10-person barbecue this year will cost Americans roughly $99, the most on record, with key fixings such as beer, beef, soda, and lettuce making up nearly two-thirds of the overall cost.

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Why the price of chocolate's key ingredient skyrocketed in 2024

Chocolate’s key ingredient has soared in commodities markets throughout 2024. Spot prices for cocoa began the year around $4,200 a metric ton, then hit an all-time high of more than $11,000 a metric ton in late April before settling above $9,000. Factors such as crop disease, El Niño, farm gate prices and market speculation all played big roles in cocoa’s historic price runup. “The supply side factors are still very much a major problem, and I think they will continue to be for the next few years,” said Paul Joules, agricultural commodity analyst at Rabobank.
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What the price difference between ham and bacon tell us about inflation

Shoppers in the meat aisle may have noticed something weird last month: Bacon prices are sizzling, but ham’s not so hot. Bacon is more expensive than it was a year ago, with prices up 6.9% from May 2023 to May of this year, according to inflation data from the Bureau of Labor Statistics. Pork chops were up too, by 4.6%. But ham prices were lower, falling 5.4% overall and dropping 6.3% when you exclude canned varieties. What gives?
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