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ATLANTA — Good news for your Fourth of July cookout — it’s more affordable than last year. Households can expect to pay $67.73 for a party of 10, down 3% from last year’s high, according to a survey by the American Farm Bureau Federation.
The recipe includes 12 main ingredients. Hamburger buns, beef patties and potato salad have gone up in price this year, while chicken breast, lemonade and chocolate chip cookies have dropped in price.
“The slight downward trend in cooking costs does not negate the dramatic increases we have seen over the last few years. Households are still feeling the brunt of inflation,” said Roger Cryan. Chief Economist at the American Farm Bureau Federation.
This year’s cooking cost is the second highest after last year’s number – $69.68 for a party of 10. The American Farm Bureau Federation has been conducting the survey since 2013.
Most of the 12 basket items surveyed have declined this year. The biggest savings came from items that broke records last year, such as chicken. Cases of avian flu, which hit the country earlier this year, have fallen, giving the chicken population time to recover. Two pounds of chicken breasts cost an average of $8.14, down 9 percent from last year. The biggest price drop was lemon oil — down 16 percent from last year, at $3.73 for 2 ½ quarts, the study found.
Cattle feed prices were up 4% this year to $11.54 per 2 pounds due to lower feed prices and herd sizes. Potato prices also increased due to poor growing weather, according to the Farm Bureau. Potatoes are up 5% to $3.44 for 2 ½ pounds of homemade potato salad. A pack of hamburger buns saw a huge increase of 17% – $2.26 per pack.
Don’t think farmers are off the hook, even at the grocery store. They are price takers, not price takers, with a share of only 14 percent of the retail food dollar.
– Roger Cryan, American Farm Bureau Federation
“Don’t think that farmers are going to win with higher prices, even at the grocery store. They’re price takers, not price takers. They’re only 14% of the retail food dollar. Farmers have to pay for fuel, fertilizer, and other costs, all of which have gone up in price,” Cryan said.
This year’s cooking prices are 14 percent higher than two years ago. The market basket includes bacon, cheese, bacon and beans, potato chips, ice cream and strawberries. The cookout costs about $7 per person for a party of 10.
The Fourth of July Cooking Survey is based on volunteer shoppers who checked prices at 240 stores across the state and in Puerto Rico from June 1-8. In May, the consumer price index (excluding food at home) showed a 5.8% year-on-year increase. The organization only looks at the food available in summer kitchens, the survey says.
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