Inflation costs continue to turn up the heat on family cookouts this year.
Few things are more American than the 4th of July cookout, but this Independence Day, the food on the grill was the most expensive it has ever been.
According to statistics compiled by the American Fam Bureau Federation the cost for a 10 person cookout hit an average of $71.22, up $3.49 from last year’s cost of $67.73. This 5% jump in overall price includes some staggering numbers for certain staples.
Costs of lemonade are up 12% from last year while ground beef is up 11%. Potato chips have seen a 7% increase and ice cream an 8% increase.
According to the Advantage Shopper Outlook for 2024, 55% of shoppers have switched to less expensive choices in the grocery store including 52% switching to lower-priced brands. The survey found that as many as 20% of consumers are skipping meals to save money.
The White House drew heavy criticism when it made the claim in 2021 that cookout costs were down 16 cents. That same year total inflation hit 7% with housing costs rising 24%. The Federal Reserve considers 2% annual inflation a healthy economy. The last time inflation was in that range was 2020.
This year’s 5% jump in costs comes on the heels of 4 years of high inflation rates resulting in a total increase in food costs of 30% since 2019.
