Food Costs Have Increased 30% in the Past 5 Years: Report

Food Costs Have Increased 30% in the Past 5 Years: Report

Meat was the main ingredient in most Independence Day dishes and a primary driver of high supermarket bills for the recent holiday. An American Farm Bureau Federation report suggests to save money, Americans should focus on preparing mostly side dishes.

The report states hosts feeding a group of 10 will spend an average of $71.22, a record high price that can be first and foremost attributed to inflation. The cost of food for the recent 4th of July holiday was 5% more than last year and 30% higher than in 2019 before the Covid-19 pandemic.

This is the first year that grocery costs have surpassed $7 per invitee, with the total meal costing $7.12 per person.

In 2023, U.S. consumers spent a total of $9.5 billion on food.

According to the World Metrics Report for 2024, approximately 190 million pounds of beef were bought in preparation for the July 4th celebrations.

Two pounds of potatoes cost an average of $1.53, 17% less than last year, recovering from record-high prices due to weather-related production decreases in recent years.

Chicken is the only protein that has decreased in price; 2 pounds of chicken breast will cost an average of $7.83, a 4% decrease since 2023 and down over 13% from the record high in 2022.

The survey pulls prices for a complete, homemade cookout consisting of cheeseburgers, chicken breasts, pork chops, potato chips, pork and beans, fresh strawberries, homemade potato salad, fresh-squeezed lemonade, chocolate chip cookies, and ice cream.

Meat costs are at an all-time high. According to the report, 2 pounds of ground beef cost an average of $12.77, up more than $1, or 11%, from last year. The prices of pork chops and cheeseburgers are up as well.

Lemonade won’t come cheap either. Lemon production is estimated to fall over 16% this year due to the citrus greening disease outbreak in California, where most U.S. lemons are produced. These supply effects have raised lemon prices by 13% on average from last year to $3.20 for 1.5 pounds.

Strawberries and potato chips are both higher than in the last two years. Two pints of strawberries cost $4.61 on average, less than its high in 2021.

The World Metrics report notes that fresh fruit salads are prepared by 41% of Americans for their celebrations.

Fruit salads are one of the most popular desserts for the occasion, usually including a mix of berries, watermelon, and even bananas, the classic red, white, and blue salad.