Your Fourth of July cookout may be slightly more expensive than last year, according to a survey done by the American Farm Bureau Federation. The study found the average cookout basket with summer staples like cheeseburgers, chicken breasts, strawberries, potato salad and dessert to feed 10 people costs around $73.82, a 4% increase from last year. Federation Economist Faith Parum says that’s a pretty standard rise.
“When we adjust our cost of our basket for inflation, we find that it holds steady compared to previous years and is actually is increasing at a lower rate; then the general economy is feeling that inflation,” Parum explained.
The cost actually decreased from last year’s survey when adjusted for inflation. Parum says the most expensive items in the basket are the meats. Two pounds of beef will run you around $14.
“Ground beef is seeing record highs as ranchers face the smallest cattle herd in generations, mainly due to that historic drought, increased production expenses; all keeping that beef high,” Parum noted.”
Strawberry prices rose over 12% from last year, thanks to a Florida freeze. She says refrigeration costs are driving up all fresh produce prices, but the biggest percentage increase was in canned goods.
“That is mainly due to aluminum tariffs, making cans a little bit more expensive; so, less about what’s in the cans, and more about the vessel it comes in,” Parum said.
The only two items to fall in price were potato chips and potato salad ingredients. Egg prices have nearly halved as flocks recover from avian influenza.
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