Those celebrating Independence Day with an afternoon cookout will be shelling out more than ever, with price increases in line with overall inflation that the economy is facing.The American Farm Bureau Federation estimates that a Fourth of July cookout for 10 people will cost $73.82. That’s a 4% increase from last year, which is roughly equal to the country’s overall inflation over the past year.
Overall inflation has been plaguing consumers for years now. The consumer price index for May showed inflation ticked up 4.2% on an annual basis.“That means families are seeing higher prices at the grocery store, but this year’s cookout cost is generally moving in line with the broader economy,” two economists from the group said in a recent report.The group looked at a basket of possible cookout foods, including cheeseburgers, chicken breasts, pork chops, potato chips, pork and beans, fresh strawberries, and more.Some food items have experienced higher annual inflation than others.The prices of beef, a staple for the holiday, have been higher than overall inflation, according to the latest consumer price index data. The cost of ground beef is over 12% higher now than this time last year, while steaks are nearly 15% more expensive.On the other hand, the price of chicken has actually decreased since May 2025, falling by 0.6% over the past 12 months.Fresh fruits and vegetables are a mixed bag. Apple prices are up 5.6%, while banana prices have decreased over the past year. Tomato prices have skyrocketed 32% in just the past year, but the cost of potatoes has dropped 0.6%.So given that, all of the combined Fourth of July foods that the Farm Bureau looked at even out to about the rate of overall inflation.Affordability is the No. 1 issue for voters this year, and while prices have gone up 4.2% over the past 12 months, years of cumulative inflation starting in 2021 under then-President Joe Biden have been a major challenge for consumers.That is because voters often don’t just gauge how much things cost now than 12 months ago but tend to take a longer view.For instance, looking at the rate of inflation over the past five years, prices have risen a whopping 24% on average.And while the stock market is breaking records and the job market has been healthy and unemployment relatively low by historical standards, consumers have recently reported some of the worst economic sentiment in decades.KENNEDY CENTER TO OFFER $25,000 JULY 4 FIREWORKS PACKAGE WITH AIR-CONDITIONED LOUNGEConsumer sentiment was at 49.5 in June, according to a reading of the University of Michigan Consumer Sentiment Index. That is 18.5% lower than a year ago.In fact, at one point this year, sentiment dropped lower than it did during the worst of the Great Recession and when the entire country was locked down during the COVID-19 pandemic, despite the expanding economy and stable jobs market.
