The Fourth of July celebration is not complete without sumptuous food, especially barbecue, on the table to be shared by families and friends. Though, the American Farm Bureau Federation (AFBF) gives consumers a heads up that this year's feast will be more expensive.
The agency says food prices for this year's Fourth of July feast have jumped 17% from last year. The AFBF added that the increase was caused by several factors.
AFBF Chief Economist Roger Cryan explained: "Despite higher food prices, the supply chain disruptions and inflation have made farm supplies more expensive; like consumers, farmers are price-takers, not price-makers,"
Fruits and vegetables are produced at high costs, which trickle down to the retail level and ultimately affect consumers' budgets. They are currently looking for deals on the necessities for the Fourth of July barbecue where most buyers would make a one-stop-shop.
According to NBC Chicago, the AFBF provided a table reflecting current prices and price increases of common items at a July 4th banquet.
Individual Prices, AFBF 2022 Summer Cookout:
- Two pounds of ground beef, $11.12 (+36%)
- Two pounds of boneless, skinless chicken breasts, $8.99 (+33%)
- Thirty-two ounces of pork & beans, $2.53 (+33%)
- Three pounds of center-cut pork chops, $15.26 (+31%)
- Two and a half quarts of fresh-squeezed lemonade, $4.43 (+22%)
- Two and a half pounds of homemade potato salad, $3.27 (+19%)
- Eight hamburger buns, $1.93 (+16%)Half-gallon of vanilla ice cream, $5.16 (+10%)
- Thirteen-ounce bag of chocolate chip cookies, $4.31 (+7%)
- Two pints of strawberries, $4.44 (-16%)One pound of sliced cheese, $3.53 (-13%)
- Sixteen-ounce bag of potato chips, $4.71 (-4%)
External Factors
There are several causes for the sharp increase in food prices, as per an NPR report. Global supply networks have been affected by the outbreak. Animal feed ingredients like corn and soybeans are becoming increasingly expensive. Millions of birds have been killed by U.S. poultry farmers in recent months as a bird flu outbreak spread through flocks.
Wheat prices are also being impacted by Russia-Ukraine War. Russian blockades have prevented millions of tons of grain from reaching Ukraine, one of the biggest exporters of wheat in the world.
David Branch, a food and agribusiness adviser for Wells Fargo, advises consumers to calculate the price per meal after doing some research. You might discover that turning vegetarian is preferable or that a certain cut of meat offers far greater value, like frozen bags that buy one, get one free.
Less Fireworks Display This Year
Meanwhile, the high inflation rate in the United States may also affect fireworks for the Fourth of July. The American Pyrotechnics Association claims that while shipping and transportation expenses have increased dramatically, the cost of supplies and raw materials has risen approximately 20%.
Owner of Minnesota Pyrotechnics James Baxter stated that prices for events might range from $10,000 to $30,000. This year, Baxter warned that some performances would be shortened by two to three minutes if cities or organizers would not modify their budgets, per Kare 11.
Baxter stated that display companies are expected to face difficulties in "getting multi-shot cakes, multi-shot devices."
"The way the regulations have been, and just supply and demand, the salutes -- the large booms at the end of the finales, those white bursts -- a lot of those have been unavailable for many companies to get this year," he said.
Baxter added that many communities have experienced a staffing shortage. Minneapolis listed that as one of the reasons the city decided against holding a fireworks display this July 4th.
