U.S. consumers can expect to pay 17 percent more to eat on Independence Day in 2022, according to a new report from the American Farm Bureau Federation (AFBF).
The annual study confirmed that the average cost of a summer cookout for 10 people would total $69.68, an increase of $10 from 2021.
The authors of the study assessed many of Americans’ favorite cookout foods. They found that the price for two pounds of ground beef surged 36 percent to $11.12, two pounds of boneless and skinless chicken breasts jumped 33 percent to $8.99, three pounds of center-cut pork chops climbed 31 percent to $15.26, and 32 ounces of pork and beans rose 33 percent to $2.53.
There will be some food price respite for July 4 event hosts, as the cost of two pints of strawberries fell 16 percent to $4.44, one pound of sliced cheese dropped 13 percent to $3.53, and a 16-ounce bag of potato chips dropped 4 percent to $4.71.
The Farm Bureau cited continuing supply chain disruptions and broad-based inflation for the double-digit increase in food costs this year. AFBF Chief Economist Roger Cryan also alluded to the cascading impacts of the military conflict in Eastern Europe as Belarusian and Russian fertilizer exports are limited, and much of Ukraine’s food shipments are cut off.
“The increased cost of food and supplies is a very real concern in our country and across the globe,” AFBF President Zippy Duvall said in the report. “U.S. food assistance programs and food banks help those who struggle to make ends meet here at home, but the story is much different around the globe as food insecurity skyrockets. The big impact of a single event in Ukraine shows how dependent the world is on stable, productive agriculture.”
In May, the food price index advanced 10.1 percent year-over-year, with the cost of typical household staples soaring. According to the Bureau of Labor Statistics consumer price index report, the price of beef and veal rose 10.2 percent, pork jumped 13.3 percent, ham rose 13.3 percent, chicken rose 17.4 percent, fish and seafood rose 13.1 percent, and eggs soared by 32.2 percent.
By Andrew Moran
