Will Kentuckians have to pay more to cookout this Fourth of July? Check out grocery prices
While inflation has started to cool off the last few months, grocery shoppers should still expect to spend a pretty penny on their Fourth of July celebration.
A survey from the American Farm Bureau Federation found the cost of a cookout with for 10 people will cost $67.73, a decrease of 3% from last year’s record high of $69.68.
The survey looked at the prices of 12 staple cookout items and found the cost of hamburger buns, beef and potato salad increased, while the cost of chicken breast, lemonade and cookies fell.
“The slight downward direction in the cost of a cookout doesn’t counter the dramatic increases we’ve seen over the past few years. Families are still feeling the pinch of high inflation along with other factors keeping prices high,” Roger Cryan, chief economist at the American Farm Bureau Federation, said.
This year’s cookout is around 14% higher than two years ago and breaks down to cost about $7 per person, the survey found.
See how inflation has changed prices on cookout staples
Grocery inflation started increasing in April 2021 and reached its peak last June, according to the U.S. Bureau of Labor Statistics. The increase has been attributed to problems in the global supply chain, the war in Ukraine, increased fuel prices and unexpected supply shocks.
New data shows the rate of inflation is finally starting to slow down, however. The “food at home” consumer price index rose 5.8% in the last year, increasing 0.1 % from April to May, according to the BLS.
The year-over-year increase is the lowest since October 2021, according to the U.S. Department of Agriculture. However, prices are expected to keep increasing in 2023 for food-at-home categories like meats, poultry, dairy products, processed fruits and vegetables, and cereals and bakery products.
In Kentucky, prices for key food groups like animal protein, eggs, dairy and wheat products have grown increasingly, said Alison Gustafson, Ph.D. and associate professor with the University of Kentucky’s Department of Nutrition and Food Science.
“The hikes or increases are starting to slow, but the prices are still higher than they were from this time last year,” Gustafson said.
High prices at the grocery have led more Kentuckians to start utilizing local food pantries.
Carolyn Lindsey, manager of the Grateful Bread Food Pantry in Rockcastle County, has noticed more families coming to the pantry to get items for free so they can minimize what they spend at the grocery store.
To help you save money and estimate how much your Fourth of July celebration may cost this year, we’ve compared the U.S. city average prices of cookout items from May 2022 to May 2023 using the latest available from the federal BLS.
Note: These graphics will automatically update as new data becomes available.
Ground beef
The price of ground beef by the pound stayed consistent, only increasing 3 cents from $5.33 to $5.36.
Chicken
Chicken breast per pound decreased from $4.31 to $4.24. The price dropped 7 cents or about 1.6%.
White bread
White bread costs have jumped from $1.61 to $1.95, an increase of 34 cents or 21.1%.
Butter
Butter prices rose from $4.29 to $4.55, an increase of 26 cents or 6.1%.
Beans
The price of beans per pound rose from $1.64 to $1.7, an increase of 6 cents or 3.7%
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