Frankfurter prices spiked 5% in a month, more than any other meat, as Americans stocked up for July 4 hot dogs

• The price of frankfurters spiked 4.8% in July as Americans stocked up on hot dogs for July 4.
• It's estimated that 150 million hot dogs are consumed over this holiday day.
• Experts had warned of price hikes on pork products over July 4 thanks to hog shortages.

Hot dog prices soared in July, even as inflation eased off overall.

According to the Bureau of Labor Statistics' Consumer Price Index, the price of frankfurters - the sausage used in a hot dog - jumped by 4.8% in July, the highest price increase among all meat products.

Pork steaks and ribs were up 4.4% during this period, while other meats including chicken and beef saw more modest price increases.

The Consumer Price Index tracks price increases and decreases on a range of goods and services from month to month.

The rising prices come as US consumers stocked up on hot dogs for July 4 cookouts. It's estimated that Americans eat roughly 150 million hot dogs over the holiday each year.

Experts warned earlier in the year that consumers could see price hikes on pork products over July 4 thanks to hog shortages.

Read more: What is inflation, and when should you really start worrying about it?

Tyson Foods, the world's second-largest meat processor, said in a recent earnings call that it had increased its pork prices by as much as 39% in the most recent quarter, ending July 3. Beef and chicken were up by 12% and 16% respectively, it said, as reported by Insider's Grace Dean.

The ongoing supply chain crisis is causing delays, shortages, and is preventing manufacturers and processors from keeping up with soaring demand. Meat producers are bearing the brunt.

"Costs are hitting us faster than we can get pricing at this point," Tyson Foods CEO Donnie King told investors this week. "We will continue to take price to match the nature of the cost that's coming to us."

The labor crunch is also making the situation worse, he said.

"We are more inefficient than we have historically been ... Essentially it takes us six days to get five days' worth of work," he added.