Smith: The price of a 13-item basket for a traditional July 4th cookout for ten people is slightly higher than it was last year. American Farm Bureau Chief Economist John Newton says the cost to feed family and friends is $52.80 or $5.28 per person compared to $52.69 or $5.27 per person in 2018.
Newton: 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.
Smith: 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 says the price of food remains stable for American consumers.
Newton: 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%.
Smith: 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. Newton says Farm Bureau tracked a new item as part of this year’s July 4th cookout survey.
Newton: This year, we added ice cream, and we found that even when adding ice cream, the price of a July 4th cookout remains affordable at less than six dollars per person.
Smith: Chad Smith, Washington.