This year’s Fourth of July cookouts provide an opportunity for Americans to enjoy the holiday without breaking the bank.
According to the American Farm Bureau’s Summer Cookout Survey, the average cost per person for a July 4th cookout has been reduced somewhat, making the holiday more affordable for American families.
The average cost per person for a July 4th cookout, according to the survey, will be $6.77, down from $6.97 last year. However, as the Farm Bureau pointed out, despite a 3% decline from last year’s record high, prices are still 14% higher than they were two years ago, indicating the ongoing impact of inflation.
Cost of Cookout Cooling Down
The consumer price index report from the Bureau of Labor Statistics shows that the annual average inflation for meats, poultry, fish, and eggs remained relatively flat (0.3%) in May 2023 compared to the significant jump (14.2%) observed a year ago.
Notably, the price of sliced bacon experienced the largest annual drop since 2015, falling from $7.40 in May 2022 to $6.30 in May 2023, while the average price of a pound of a pound of boneless chicken breast went down from $4.56 in June 2022 to $4.20 in May 2023.
The AFBF’s breakdown of the July 4th cookout basket shows that the price of ground beef has increased by 4%, while the cost for chicken breast has dropped by 9%.
Prices for pork chops have fallen by 6%, while cheese has remained steady. Hamburger bun prices have climbed by 17%, while potato salad now costs 5% more. Pork and beans, on the other side, have seen a tiny reduction, as have potato chips and chocolate chip cookies. Ice cream prices have risen by 3%, while strawberries have climbed by 3%. Lemonade prices, on the other hand, have dropped by 16%.
"The slight downward direction in the cost of a cookout doesn't counter the dramatic increases we've seen over the past few years. Families are still feeling the pinch of high inflation along with other factors keeping prices high," said AFBF Chief Economist Roger Cryan.
July 4th Cookout Basket and Price Changes, According to American Farm Bureau
| Item | Price | Change vs 2022 |
|---|---|---|
| 2 pounds of ground beef | $11.54 | +4% |
| 2 pounds of chicken breasts | $8.14 | -9% |
| 3 pounds of pork chops | $14.37 | -6% |
| 1 pound of cheese | $3.53 | No change |
| 1 package of hamburger buns | $2.26 | +17% |
| 2 ½ pounds of homemade potato salad | $3.44 | +5% |
| 32 ounces of pork and beans | $2.44 | -3% |
| 16-ounce bag of potato chips | $4.53 | -4% |
| 13-ounce package of chocolate chip cookies | $3.90 | -10% |
| ½ gallon of ice cream | $5.29 | +3% |
| 2 pints of strawberries | $4.56 | +3% |
| 2 ½ quarts of lemonade | $3.73 | -16% |
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