The cost of a July Fourth cookout in 2024 will be 5% higher than last year, according to a recent survey by the U.S. Farm Bureau.
The farmer and rancher organization reports that an Independence Day cookout for 10 people will cost an average of $71.22 this year, up from $67.73 in 2023.
Although the overall U.S. consumer price index has been trending lower in recent months, many Americans remain concerned about inflation, particularly in an election year.
The Farm Bureau's survey highlights that the retail price for 2 pounds (0.91 kg) of ground beef has increased by 11% to $12.77, while chicken prices have decreased by 4% to $7.83 for 2 pounds.
Independence Day celebrations typically include parades, fireworks, and cookouts featuring hamburgers, steaks, hot dogs, chicken, corn on the cob, and other foods.
The Farm Bureau survey is not the only indicator of rising holiday meal costs. An international bank, Rabobank, reported that the average cost of a cookout for 10 people would exceed $99 this year, up from $97 last year, with beverages and beef being the most expensive items.
Despite these increases, the overall rise in food prices in the United States in 2024 is expected to be about 2%, down from an average of 3% annually, according to Andrew Stevens, an economics professor at the University of Wisconsin-Madison.
"Yes, food prices are increasing, but they're not increasing as much as they have in recent years, and they're even a little below the long-run average," Stevens told Reuters.
U.S. consumer prices remained unchanged in May.
Heading into the election, many Americans cite the impact of inflation on the economy as a top concern. A recent poll indicated that 43% believe former President Donald Trump would have a better approach to the economy compared to 37% for President Joe Biden.
In contrast, the cost of the Fourth of July meal had decreased in 2023 compared to 2022, according to the Farm Bureau survey. Photo by Billy Hathorn, Wikimedia commons.
