By Daniel Stefanski |
Americans celebrating the Fourth of July are paying more than they were two years ago.
According to the 2023 American Farm Bureau Federation (AFBF) marketbasket survey, American families might expect to pay $67.73 for a cookout on July Fourth. This amount is three percent lower than a year ago, but around fourteen percent higher than 2021 numbers.
AFBF Chief Economist Roger Cryan weighed in on the news, saying, “The slight downward direction in the cost of a cookout doesn’t counter the dramatic increases we’ve seen over the past few years. Families are still feeling the pinch of high inflation along with other factors keeping prices high. Don’t assume farmers come out as winners from higher prices at the grocery store either. They’re price takers, not price makers, whose share of the retail food dollar is just 14%. Farmers have to pay for fuel, fertilizer and other expenses, which have all gone up in cost.”
Zippy Duvall, the President of AFBF, also issued a statement, writing, “While the increased costs are difficult and have made it more challenging for some families to put food on the table, it’s important to remember that America still has one of the most affordable food supplies in the world, which is due in part to strong farm bill programs. As we all celebrate the holiday, we encourage members of Congress to consider the contributions of the farm bill to our security and independence by ensuring a safe and abundant food supply.”
AFBF shared multiple factors that might explain the increased prices for food: “Drought conditions have increased the cost of feed and reduced the number of available cattle for the summer grilling season, driving up beef prices; higher potato prices can be attributed to poor weather leading to a drop in production, and general inflation is driving up the price of processed foods like bread.”
According to the AFBF, data for the survey was collected “from 240 stores in every state and Puerto Rico.”
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.