Inflation Hits 4th of July BBQ Prices, But 84% of American Families Will Still Celebrate

American families planning a traditional 4th of July BBQ can expect to pay more for staples like meat, burgers, chicken, hot dogs, buns, and even potatoes as inflation has raised the prices of these items by as much as 17 percent.

According to the American Farm Bureau Federation (AFBF), this year's cookout will cost $10 higher than last year due to inflation, supply chain disruptions, and the ongoing conflict between Ukraine and Russia. AFBF Chief Economist Roger Cryan said that despite the food price increase, even farmers are feeling the brunt of a challenging economy since it's still not enough to cover their increasing expenses to ensure the supplies.

Of the 4th of July staples, ground beef had the highest price increase at 36 percent. Cans of cold beer will also be steep, rising to nearly 25 percent from last year. The price of a bottle of wine, however, has increased by nearly six percent only.

The AFBF also notes that prices for strawberries and cheese are down by 86 cents and 48 cents, respectively. Even potato chips are down by four percent a bag. The decline is due to the conditions of fruit-growing regions and better pricing flexibility for processed goods.

Grocery Price Increase Will Continue

Phil Lempert of the consumer website SupermarketGuru said that prices of grocery items would keep going up for the next 12 months. He believes the problem will not be fixed until the supply chain normalizes.

Consumers used to one-stop-shopping are now hunting for bargains by going from store to store. Dad Joey Schram said that he bought buns from somewhere else than his usual store because he got a better deal. He and his family will still celebrate the 4th of July despite the rising prices, as do 84 percent of Americans.

According to a survey from Numerator, most families who will be having a cookout expect inflation to affect their 4th of July plans. Thus, more than a quarter said their celebrations would be scaled down by more than 20 percent.

However, nearly all respondents to the survey said that they will still serve traditional food on the table, including side dishes, while 45 percent said they will still buy beer this holiday. At least 64 percent said they put a $100 cap on their Independence Day.

Tips for Keeping Food Cost Down

Wells Fargo analyst Karol Aure-Flynn said food is always central to a 4th of July celebration. Consequently, many consumers have plenty of reasons to celebrate this summer despite the sting on their wallets.

Aure-Flynn shared some tips on cutting down on food costs via Wells Fargo. She said consumers might want to opt for a shrimp and pork barbecue taco instead of other meats. Pork prices are up by three percent only compared to 12 to 15 percent for beef or chicken.

For desserts, the analyst said that prices for sherbet, gelato, and popsicles are down by 4.5 percent, while ice cream prices are up by six percent. If parents prefer it, they can make homemade ice cream with the kids to keep them occupied and to create a more memorable Independence Day celebration.