Inflation: Will the 4th of July cookout be cheaper in 2024 or more expensive than last year?

The Fourth of July, also known as Independence Day, is one of the most important holidays celebrated in the country. It marks the date when the thirteen American colonies declared their independence from British rule, leading to the formation of a new country, the United States of America.

Families and friends throughout the country gather to celebrate the holiday, often with fireworks and cookouts.

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Will the Fourth of July cookout be cheaper in 2024 or more expensive than last year?

This year, expect to shell out a bit more for his communal outdoor meal.

According to a survey from the U.S. Farm Bureau released this week, the price of this year’s Fourth of July cookout will be higher by 5% compared to last year. These include the cost of ground beef, cheese, and hamburger buns.

The annual survey conducted by the American Farm Bureau Federation shows that the overall cost to prepare a meal for 10 people comes out to $71.22, making 2024′s cost of $7.12 per person a record high. Last year’s price tag was $67.73 for 10-person feast.

The price of ground beef showed one of the steepest hikes, increasing by 11% to $12.77 for two pounds.

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Cookouts more costly in the West

Every year, the farm and rancher organization’s volunteers conduct a price survey of a dozen items typically consumed in cookouts, including ground beef, hamburger buns, and vanilla ice cream.

The average cost for a 10-person cookout varies throughout the country. The highest is $80.88 in Western states, while the Northeast has the lowest average at $63.54.

Despite the more expensive July Fourth cookout households in the country can expect, the overall increase of food prices in the country is expected to be 2% this year, down one point from an average of 3% annually.