The inflationary pressures pinching Americans will be make this year’s Fourth of July celebrations costlier than they may be accustomed to, according to the American Farm Bureau Federation (AFBF).
Inflation has been a consistent problem plaguing everyday Americans throughout President Joe Biden’s first term, with the consumer price index (CPI) increasing by roughly 20% since 2021. Unfortunately, nearly all of the goods that are staples of the quintessential Independence Day cookout have not been spared, according to AFBF’s analysis, released in late June.
“It’s not surprising that this has happened,” OH Skinner, executive director of the Alliance for Consumers, told the Daily Caller News Foundation. “The end result is that it’s harder and harder for families to gather. And for too many who are just trying to make ends meet, it might no longer be possible to celebrate one of our great cultural moments in the way they did while growing up.” (RELATED: Biden Says Inflation Is Moving In The Right Direction. The Numbers Paint A Different Picture)
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On average, two pounds of ground beef now sets consumers back about $12.77, reflecting an 11% increase relative to 2023’s prices, while hamburger buns now typically cost 7% more than they did last year, according to AFBF. Meanwhile, a 2.5 quart bottle of lemonade now costs about $4.19, a 12% jump from last year.
A three pound helping of pork chops, another American favorite to put on the grill, now runs consumers nearly $15.50, an 8% increase from 2023, according to AFBF. The typical 16 ounce bag of potato chips has increased by 8% to $4.90.
It’s not all bad news for barbecue enjoyers, as the average cost of two pounds of chicken breast has dropped by 4% relative to last year, and potato salad — a popular summer side item — has also dropped in price by about 4%, according to AFBF.
However, some sweet treats have had prices jump, souring some of the improvements in the prices of more savory items like chicken and potato salad. For example, the price of the average 13 ounce pack of chocolate chip cookies is up by about 2%, while a half-gallon tub of ice cream has increased by about 7% relative to last year, according to AFBF.
For Americans who plan to drive elsewhere to celebrate the long weekend, the national average price for a gallon of gas at the pump is currently hovering at around $3.51, according to AAA data. While that price is a far cry from the $4.80 per gallon Americans had to pony up around this time in 2022, it is still approximately $1 per gallon more than what Americans paid at the pump in January 2020, the last full month before the pandemic began to cause significant economic and political disruptions.
For those who enjoy washing down their burgers and hot dogs — which have increased in price by about 7% — with some beer, the average cost of ice cold pilsners has increased by about 3%, according to Quartz.
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