Inflation is making Fourth of July celebrations more expensive than ever

Nothing says Independence Day like a good, old-fashioned barbecue.

In keeping with tradition, most Americans — roughly 60% — plan to grill this weekend, and 53% will get together with friends and family, according to a recent report by market research firm Numerator.

“Consumers want to celebrate this summer for a number of reasons, and food is central to that,” said Karol Aure-Flynn, a food and agribusiness analyst and author of Wells Fargo’s July Fourth food inflation report.

However, with the cost of burgers, chips, soda and side dishes on the rise, revelers will be spending a lot more than they did last year.

The consumer price index, a key inflation gauge, rose 8.6% in May from a year ago, the highest increase since December 1981, spurred by surging prices almost across the board.