Following the Farm Bureau marketbasket survey, USDA’s Economic Research Service Tuesday reports that cheeseburgers will cost more this year for an Independence Day cookout. USDA says that in May 2023, the ingredients for a home-prepared ¼-pound cheeseburger totaled $2.17 per burger, an increase of 10 cents from 2022.
Prices for cheeseburger ingredients grew more slowly over the year than prices for all groceries, which rose 5.8 percent from May 2022 to May 2023. Ground beef made up the largest cost of the burger at $1.24, and Cheddar cheese accounted for $0.37. Both these items increased in price by 3.5 percent between 2022 and 2023 and together accounted for half the increase in costs.
Bread prices rose the fastest, by 21.5 percent, and added 4 cents to the cost of a burger between 2022 and 2023. Tomato prices fell slightly over the year, but an increase in lettuce prices added one cent to total costs.
