Families preparing to celebrate the Fourth of July will find grocery store prices remain high, with an Independence Day cookout costing $71.22 for ten guests this year, according to the American Farm Bureau Federation’s (AFBF) 2024 annual marketbasket survey.
The cost represents a 5% increase from 2023 and nearly 30% from five years ago, marking a record high since the survey began in 2013. The $7.12 per-person expense includes cookout staples such as cheeseburgers, chicken breasts, pork chops, homemade potato salad, strawberries, and ice cream.
“Higher prices at the grocery store reflect a number of challenges facing America’s families. Lower availability of some cookout staples and inflation are hitting people in their wallets,” said AFBF Chief Economist Roger Cryan. “Farmers are also feeling the effects of high prices. They’re price takers, not price makers. Their share of the retail food dollar is just 15%, but they still pay elevated fuel, fertilizer and other supply prices.”
The survey highlighted a significant year-to-year increase in the cost of beef and lemonade, while chicken breasts and potato salad saw price decreases. The retail price for two pounds of ground beef rose by 11% to $12.77, and lemonade saw a 12% increase, costing $4.19. These price hikes are influenced by several factors, including recent drought conditions that led ranchers to sell cattle early, reducing the beef supply for summer, and citrus greening affecting lemon availability.
In contrast, chicken breasts decreased by 4%, costing $7.83 for two pounds, and potato salad prices dropped by 4% to $3.32, thanks to stabilized chicken supplies and a recovery in potato crops from previous poor weather.
Despite the record high cost of $7.12 per person, Americans still spend a smaller percentage of their income on food compared to other countries. AFBF President Zippy Duvall emphasized the relative affordability and abundance of the U.S. food supply.
“As we celebrate this nation’s independence, we also celebrate America’s food independence. And while all families in America are paying more for food than before, we still have one of the most affordable food supplies in the world,” Duvall said. “In the United States, we are blessed with the tools to grow the food, fiber, and renewable fuel to meet the needs of every family across the country.”
Duvall also highlighted the importance of a strong farm bill in supporting American farmers. “The success of America’s farmers is due in part to partnerships in research, conservation, and farm safety net programs that are made possible through a strong farm bill. It’s crucial that as we celebrate the holiday we also urge members of Congress to return to Washington and pass a new, modernized five-year farm bill. We cannot afford more delays and short-term extensions. Farmers, and every family in America, are relying on them to get the job done to ensure America continues to lead the world in agriculture.”
The federal Consumer Price Index for food at home indicates a modest overall increase of 1% compared to last year. However, the Farm Bureau’s marketbasket survey focuses specifically on foods associated with summer cookouts.
The survey is part of the AFBF’s marketbasket series, which includes the annual Thanksgiving Dinner Cost Survey. Data was collected by volunteer shoppers, including Farm Bureau members and others, from stores across all states and Puerto Rico.
Individual Prices for 2024 Summer Cookout:
- 2 pounds of ground beef: $12.77 (+11%)
- 2 pounds of chicken breasts: $7.83 (-4%)
- 3 pounds of pork chops: $15.49 (+8%)
- 1 pound of cheese: $3.57 (+1%)
- 1 package of hamburger buns: $2.41 (+7%)
- 2 ½ pounds of homemade potato salad: $3.32 (-4%)
- 32 ounces of pork and beans: $2.49 (+2%)
- 16 ounces of potato chips: $4.90 (+8%)
- 13-ounce package of chocolate chip cookies: $3.99 (+2%)
- ½ gallon of ice cream: $5.65 (+7%)
- 2 pints of strawberries: $4.61 (+1%)
- 2 ½ quarts of lemonade: $4.19 (+12%)
A comprehensive analysis of the 2024 Fourth of July cookout survey will be available on the Market Intel page at fb.org.
