This year, Independence Day celebration cookouts look to be manageable for American consumers, as grocery prices have hardly increased in comparison to that of years prior.
American Farm Bureau Federation chief economist John Newton gave update on what was to be expected for America?s birthday. He provided an update on the roles of both beef and pork, as well as current prices for this year?s Fourth of July celebration.
?The results of this year?s survey confirms that the price of a July Fourth 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 one-percent. This year?s survey showed that hamburger prices were slightly more expensive in 2019 at $4.20 a pound,
and then we saw a decrease in rib prices in 2019, helping keep the July Fourth cookout price stable relative to prior year levels,? Newton said.
Not to leave out the dairy industry, Newton says they threw a few new products into the equation to see just how the numbers would pan out for cookouts.
?This year we added ice cream and found that even when adding ice cream, the price of a July Fourth cookout remains affordable at less than six-dollars per person,? Newton said.
For more information on the Independence Day celebration cookouts, please visit the American Farm Bureau Federation website at https://www.fb.org.
