Money & The Economy

INFLATION FIREWORKS: 4th Of July BBQs Just Got A Lot More Expensive

As Americans contend with soaring inflation, Fourth of July barbecues will offer no reprieve, with the average cookout estimated to be 17% costlier this year compared to 2021.

The American Farm Bureau Federation (AFBF) reports that the average cookout will be 17% are expensive than this time last year. This increase is led by ground beef, chicken, and pork, all up by roughly 33%, as well as lemonade and potato salad, up 21% and 19% respectively. The surge comes as the largest year-over-year increase since the AFBF started tracking the data one decade ago.

Chief Economist for the AFBF Roger Cryan noted that rising fuel, labor and fertilizer costs paired with Russia’s invasion of Ukraine are at fault for rising food prices. The war has decreased agricultural exports from both Russia and Ukraine, which together accounted for 24% of wheat exports, 57% of sunflower seed exports and 14% of corn exports from 2016-2020, according to Reuters.

The AFBF noted that despite higher consumer prices, farmers are hurting too and in many cases, “higher prices farmers are being paid aren’t covering the increase in their farm expenses.”

In 2021, the White House tweeted that the July 4 cookout index had decreased by $0.14, resulting in questions from across the political spectrum as to why the administration was celebrating such a modest gain.

Cryan and the White House did not immediately respond to TheDCNF’s request for comment.

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