Consumers will be paying as much as 17 percent more for their traditional Independence Day cookout this year. The latest Food Price Outlook report from the U.S. Department of Agriculture (USDA) points out a 10.1 percent increase in overall food prices in May. Grocery prices specifically were up nearly 12 percent from 2021. Largely tracking with inflation in recent months, multiple reports are detailing striking price increases for the 2022 holiday.
According to the Wells Fargo July Fourth Food Inflation Report, the cost for a party of 10 will be notably higher than last year. Popular food categories for the holiday increased 11 percent overall from 2021. Poultry was noted as having some of the biggest increases, with the cost of chicken wings increasing 34 percent and the cost of chicken breasts increasing 24 percent. The cost of beer appears to have increased 25 percent, while the average cost of soda has risen by 13 percent. Even hot dogs are 12 percent more expensive compared to 2021.
Other reports also confirm the increased price tag for 4th of July celebrations. A new American Farm Bureau Federation (AFBF) marketbasket survey measured the price of a 10-person Independence Day cookout at $69.68. Data for the survey was gathered by 176 volunteer shoppers across the country. The survey includes ground beef, chicken breasts, pork chops, lemonade, potato salad, ice cream, cookies, strawberries, cheese, hamburger buns, potato chips, and pork and beans. Compared to last year, the nearly $70 price tag reflects an increase of 17 percent. The cost is up nearly 32 percent from the 2019 survey.
While consumers are likely to be paying between 11 and 17 percent more for a standard Independence Day cookout, those increases are not quite translating for farmers. AFBF Chief Economist Roger Cryan points out that the higher food costs largely are not covering the increased cost of production for farmers. USDA figures show that farmers only receive about eight percent of every food marketing dollar. “The farmers’ share of the retail food dollar is as low as 2% to 4% for highly processed foods such as bread and cereal, and can be 35% or more for some fresh products,” said Cryan.
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