Inflation Causes Fourth Of July Cookout Items To Hit Record High: Report

 Average per-person spending on Fourth of July food items rose to $93.34 in 2023 amid persistent inflation, new data from a National Retail Federation (NRF) survey found.

The figure is the highest ever recorded by the NRF since the survey began in 2003, marking a $9.22 increase since last year when the individual cost averaged out to $84.12. The survey, conducted from June 1st to June 7th, fielded responses from 8,225 consumers.

While the average per-person cost of Fourth of July food items was just $68.16 in 2014, the sum has grown every year except 2019. The report comes as Americans continue to struggle with inflation, which hit a 40 year high in 2022.

“The cost of a 4th of July cookout in 2021 is down $0.16 from (2020),” the Biden administration previously boasted despite severe inflation. However, NRF found that the price actually increased by more than $4 from 2020 to 2021.

 

The Bureau of Labor Statistics (BLS) reports a 10.9% increase in the price of consumer food goods from July 2021 to July 2022, the largest increase over 12 months since May 1979. BLS notes that “prices for food at home rose 13.1 percent,” while there was a 7.9% increase in the cost of food away from home in the 12-month span. 

 

A recent report on food inflation from Wells Fargo notes that the average cost of beer has increased by 8% since last year, while the price of an average 12-ounce soft drink has risen by 54 cents, or 14%. The cost of a pound of chocolate chip cookies is up about 14% since last year, while the price of bread increased by 22%. Prices for ground beef and pork chops showed minor price increases of about 1%.

 The costs of ice cream and processed cheese are up 9% and 10%, respectively, though the average cost of milk fell in 2023. The price of potato chips surged 15% since last year, while the costs of chicken breasts and eggs decreased.

But while costs have risen, the NRF survey found that 87% of respondents plan to celebrate the Fourth of July this year.