Title: Americans Expected to Spend Record-Breaking $9.4 Billion on Fourth of July Barbecues

Americans are gearing up for a festive Fourth of July celebration, with food sales expected to reach new heights despite stretched wallets, according to the National Retail Federation. The annual holiday, known for barbecues and outdoor gatherings, presents an opportunity for consumers to save money by hosting cookouts at home.

Katie Thomas, lead at the Kearney Consumer Institute, highlighted that consumer sentiment may be mediocre, but when it comes to holidays, Americans are typically willing to spend on food. The National Retail Federation forecasts a staggering $9.4 billion to be spent on food alone this Fourth of July.

For those hosting cookouts, the cost of a 10-person barbecue is projected to be approximately $99, the highest on record, according to Rabobank Group's barbecue index. Key ingredients such as beer, beef, soda, and lettuce make up nearly two-thirds of the total cost.

Despite rising food prices, hosting a barbecue at home remains a cost-effective option. Wells Fargo's chief agricultural economist, Michael Swanson, emphasized that dining out has driven overall food inflation higher in recent months. In May, grocery prices were up by 1% year over year, while the cost of dining out jumped by 4%. Grilling hamburgers at home for a party of 10 can save hosts nearly $50 compared to dining out, not including taxes and tips.

Ground beef prices have increased by 4.9% over last year, reaching $5.33 per pound. Frankfurters and chicken also experienced price jumps of 7.3% and 1.4%, respectively. While lettuce prices increased by 1%, tomatoes rose by 3.9%, and condiments by 2%. However, cheese prices have seen a decrease of 3.4% from last year.

When it comes to sides, chips have seen a 2.7% increase in prices compared to last year, while guacamole has become more affordable with a 1.1% decrease in prices. Salsa prices, on the other hand, have risen by 2.5%. For those with a sweet tooth, ice cream prices have increased by 3.3% due to higher sweetener costs.

Consumers looking to save on drinks are advised to opt for 2-liter bottles rather than cans, as the price of aluminum has surged. The cost of 2-ounce cans increased by 4.8%, while 2-liter bottles are down 6.5% from last year. Alcoholic beverages have also seen price hikes, with beer up by 1.2% and wine up by 3.4%.

To meet the demand for value-seeking behavior, grocery stores and retailers are offering deals and price reductions. Walmart is emphasizing its low-cost everyday model, while Target plans to cut prices on consumer staples like milk, meat, bread, soda, fresh fruit, and vegetables. Aldi plans to lower prices on 250 items through Labor Day.

Private-label brands and wholesale retailers like Costco, Walmart's Sam's Club, and BJ's are expected to thrive in this value-oriented environment. Consumer emphasis is shifting towards quality for the price rather than being caught up in brand names.

As Americans gear up for Fourth of July celebrations, they are expected to be savvy shoppers, comparing prices and opting for bulk purchases. Private-label goods, particularly for items that guests may not recognize once they're out of the packaging, are a recommended way to save.

With inflated prices in some food categories, Americans are choosing to celebrate in the comfort of their own homes, where hosting a barbecue provides savings compared to dining out. This Fourth of July, while consumers may have stretched budgets, the spirit of celebration remains strong, with Americans ready to indulge in their favorite holiday traditions.

Note: This news article is generated based on the contextual information provided. It does not contain any new or updated information.