This week’s patriotic cookouts found celebrants facing higher prices…again. Independence Day and weekend get-together meals cost $71.22 for 10 guests this year, according to the American Farm Bureau Federation’s 2024 annual market basket survey.
The cost represents a 5 percent increase from 2023 and nearly 30 percent from four years ago, marking a record high since the survey began in 2013. The $7.12 per-person expense includes cookout staples such as cheeseburgers, chicken breasts, pork chops, homemade potato salad, strawberries and ice cream.
“Higher prices at the grocery store reflect a number of challenges facing America’s families,” said Roger Cryan, the organization’s chief economist. “Lower availability of some cookout staples and inflation are hitting people in their wallets. Farmers are also feeling the effects of high prices. They’re price takers, not price makers. Their share of the retail food dollar is just 15 percent, but they still pay elevated fuel, fertilizer and other supply prices.”
The survey highlighted a significant year-to-year increase in the cost of beef and lemonade, while chicken breasts and potato salad saw price decreases. The retail price for two pounds of ground beef rose by 11 percent to $12.77, and lemonade saw a 12 percent increase, costing $4.19. These price hikes are influenced by several factors, including recent drought conditions that led ranchers to sell cattle early, reducing the beef supply for summer, and citrus greening affecting lemon availability.
In contrast, chicken breasts decreased by 4 percent, costing $7.83 for two pounds, and potato salad prices dropped by 4 percent to $3.32, thanks to stabilized chicken supplies and a recovery in potato crops from previous poor weather.
Polls find among all demographics that inflation and the economy remain top concerns of voters.
–Alan Goforth | Metro Voice