Inflation fears are impacting holiday dining, with the average cost of a Fourth of July barbecue expected to soar to its highest level ever, according to a new survey.
This year’s American Agriculture Association Independence Day Market Basket Survey The average cost of a summer barbecue staple — including cheeseburgers, chicken breasts, pork chops, potato chips, pork and beans, fresh strawberries, homemade potato salad, freshly squeezed lemonade, chocolate chip cookies, and ice cream — for a gathering of 10 people was $71.22, up 5 percent from last year and 30 percent from five years ago.
This figure exceeded $7 per capita for the first time.
The Fourth of July grocery bills are in line with the increased inflation that has hit consumers over the past year.
of Agriculture department experts estimate The average price for two pounds of ground beef is $12.77, up about $1, or 11 percent, from last year. This comes despite there being more feedlot cattle in the supply chain this spring than last year.
But overall cattle inventories are at a 73-year low and beef stored in refrigerated warehouses is at its lowest in recent years, the agency estimates.
Certain animal welfare laws, such as California’s Proposition 12, require farmers to provide certain amounts of grazing land for their livestock. Influenced Officials say this is the first year the law has been fully implemented.
The change has had a noticeable impact on pork chop prices, which are up 8 percent nationwide from last year to about $15.49 per 3 pounds. In California, pork chops cost about $19.91 per 3 pounds.
Another contributing factor is the recent spread of infectious avian influenza (bird flu), A herd of 40 cows Avian flu has spread across the country, contributing to higher poultry and egg prices.
The researchers also noted a decline in farm income, which fell 17 percent last year, with further declines expected in 2024, the study said, with experts predicting a further 25 percent drop.
“Weather uncertainty combined with commodity price volatility could seriously impact farmers and ranchers’ bottom lines,” the experts wrote. “Higher food prices have not translated into higher farm incomes; after factoring in processing, transportation and sales, less than 15 cents of every dollar spent on food reaches the farm.”
Still, consumer prices overall have not risen significantly in recent months, and annual inflation in May was lower than expected, according to Labor Department data.
