July 4th Holiday Affected by Soaring Grocery and Gas Prices

Cost comparison of July 4th cookouts over the past three yearsFarm Bureau

Holy cookout, Batman! The cost to host an Independence Day party has gone up 17% since last year, according to a news release from the American Farm Bureau Federation (AFBF). This “market basket” survey of consumers monitored the most popular items purchased and then compared the cost of those items today to the prices in 2021.

The market basket series of surveys are used to determine the cost of the essential food staples that people use to cook meals at home and to keep track of major price fluctuations. The series also includes a Thanksgiving Dinner survey.

The prices of the items researched for the 4th of July were based on the average prices in the United States in 2022 as collected by 176 volunteer shoppers.

These products included:

• 2 pounds of ground beef, $11.12 (+36%)
• 2 pounds of boneless, skinless chicken breasts, $8.99 (+33%)
• 32 ounces of pork & beans, $2.53 (+33%)
• 3 pounds of center-cut pork chops, $15.26 (+31%)
• 2.5 quarts of fresh-squeezed lemonade, $4.43 (+22%)
• 2.5 pounds of homemade potato salad, $3.27 (+19%)
• 8 hamburger buns, $1.93 (+16%)
• Half-gallon of vanilla ice cream, $5.16 (+10%)
• 13-ounce bag of chocolate chip cookies, $4.31 (+7%)
• 2 pints of strawberries, $4.44 (-16%)
• 1 pound of sliced cheese, $3.53 (-13%)
• 16-ounce bag of potato chips, $4.71 (-4%)

The survey found that the average cost for a cookout with 10 guests is $69.68. This is about $7 per person, yet the overall cost is approximately $10 higher than on July 4, 2021.

Most Americans have felt the slap of soaring grocery, gas, and general services prices. There are many reasons for this inflation, including COVID recovery in the supply chain and general inflation. The war between Russia and Ukraine is also a contributor to rising prices as supplies from those two countries have basically been cut off, and some other countries have halted exports to protect their own supply stock.

On the flip side, farmers are also feeling the strain, as many payments for their products don’t even cover the costs of day-to-day production. The main issues for the decrease in farmers’ income are the skyrocketing gas and fertilizer prices.

With no relief in sight as of yet, many consumers are turning to food banks and other assistance programs to just make ends meet.

Relief will be based on the war, OPEC oil prices, and the recovery of the supply chain from manufacturer to retail store.