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What will be the Federal Reserve's target inflation rate for 2025?
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July 4th Cookout Costs Hit Record High of $71.22, Up 5% from Last Year
Jul 4, 2024, 04:28 PM
The average cost of a July 4th cookout for 10 people has risen to a record high of $71.22 this year, according to the American Farm Bureau. This represents a 5% increase from last year and a significant 30% rise from five years ago. The increase in costs is attributed to inflation, which remains above the Federal Reserve's target rate. The cost of a typical Independence Day celebration has seen a steady climb, reflecting broader economic pressures since pre-pandemic 2019.
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