According to a survey conducted by the American Farm Bureau Federation, families can expect a more affordable Fourth of July cookout this year compared to last year. The average cost for a party of 10 is estimated to be $67.73, which is 3% lower than the previous record-high cost.
The survey included 12 staple items for the cookout. While hamburger buns, beef, and potato salad prices increased this year, chicken breast, lemonade, and chocolate chip cookies saw price drops.
Roger Cryan, the chief economist at the American Farm Bureau Federation, acknowledged the slight decrease in cookout costs but emphasized that families are still impacted by high inflation and other factors that contribute to elevated prices.
Although this year’s cookout cost is the second highest on record, following last year’s record-setting figure of $69.68, it represents a positive shift from the previous upward trend. The American Farm Bureau Federation has been conducting this survey since 2013.
Most of the 12 items surveyed experienced price decreases this year. The significant savings were observed for items that had reached record prices last year, such as chicken. The avian flu cases that affected the chicken population earlier this year have declined, allowing for recovery. On average, two pounds of chicken breasts cost $8.14, a 9% decrease from the previous year. Lemonade saw the largest price drop, down 16% to $3.73 for 2 ½ quarts.
The cost of beef increased by 4% this year, reaching $11.54 for 2 pounds, due to higher feed costs for cattle and a reduced herd size. Poor growing weather resulted in a 5% increase in potato prices, with 2 ½ pounds of homemade potato salad costing $3.44. Hamburger buns saw the highest price increase at 17%, with a pack costing $2.26.
Compared to two years ago, this year’s cookout cost is 14% higher. The market basket also includes pork chops, cheese, pork and beans, potato chips, ice cream, and strawberries. On average, the cost breaks down to approximately $7 per person for a party of 10.
The Fourth of July Cookout survey involved volunteer shoppers who checked prices at 240 stores across the United States and Puerto Rico from June 1-8. It’s important to note that the survey focuses solely on foods commonly found at summer cookouts. The Consumer Price Index for groceries (food at home) in May indicated a 5.8% year-over-year increase.
