AFBF: 4th of July Basket Slightly Higher This Year

If you’re planning on hosting a 4^th of July BBQ Thursday, the American farmer Bureau Federation says it’s going to cost you slightly more this year compared to last.  AFBF Chief Economist John Newton said the cost for their 13-item basket came in at $5.28 per person this year, a one cent increase.

“This year’s survey showed that hamburger prices were slightly more expensive in 2019 at $4.20 a pound, and then we also saw a decrease in rib prices in 2019, helping to keep the July 4th cookout price stable relative to prior year levels.”

Newton said the rise in hamburger prices comes from strong consumer demand, as well as growth in U.S. meat production.  The survey results show that four pounds of pork spare ribs is $11.76, down 20 cents from last year’s cookout.  Cheese prices are also down, 3% lower than last year.

Newton said the price of food remains stable for American consumers.

“The results of this year’s survey confirm that the price of a July 4th cookout remains in line with what we’ve seen over the past five years. Food prices remain very stable and are in line with the Consumer Price Index inflation rate of around 1%.”

Out of the 13 foods in the survey, five decreased in price, five increased, and three had no change in the average price compared to last year.

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