Groceries for July 4 cookout cost $10 more than last summer
“That works out to about $7 a person,” said Robert Cryan, chief economist for the largest U.S. farm group. “That is an affordable price for many Americans but it is a 17% increase from last year. That’s the largest since we began this survey 10 years ago.”
The AFBF shopping list included seven pounds of meat — ground beef, chicken breasts and pork chops — all of it costing at least 30% more than last summer. Meat accounted for half of the price tag for the cookout.
Also on the shopping list were pork and beans, potato salad, potato chips, hamburger buns, sliced cheese, vanilla ice cream, strawberries and a bag of chocolate chip cookies. All cost more than last year except for the cheese, strawberries and potato chips.
Cryan said he anticipated “significant inflation, between 5 and 9% for the next couple of years” as the economy recovers from supply chain disruptions, pent-up consumer demand and a large supply of money.