Burgers weren’t the only thing that got grilled this 4th of July. Record high food prices had American’s wallets feeling the heat.
According to a survey by the American Fam Bureau Federation the cost for a holiday grilling out with 10 guests soared to a national average of $71.22, up from $67.73 last year. This $3.49 increase is only the national average. For those who prefer hamburgers to hot dogs, the price of ground beef skyrocketed 11% since last year. Lemonade prices are up 12% while ice cream has seen an 8% rise in costs.
Pork costs jumped 8% nationally, largely driven by California’s Proposition 12 which mandates animal welfare standards. Even though Proposition 12 only applies to meat bought and sold in-state, the industry wide impact has driven Pork prices up in Georgia as well.
The costs are even higher when viewed from a distance. Total grocery prices have increased the cost to feed a family of four by nearly $1000 per month since 2019. This is a 30% jump in food costs nationwide.
The Advantage Shopper Outlook found that 52% of shoppers opted for cheaper brands due to increased costs and as many as 20% of Americans are skipping meals in order to save money.
Last year, the Biden Administration took heavy criticism for claims that the cost of an Independence Day Grill-Out has dropped 16 cents even as housing costs skyrocketed by 24%. That year total inflation hit 7%, far higher than the 2% the Federal Reserve recommends for a healthy economy.