Higher food prices in store for Fourth of July

INDIANAPOLIS — Hoosiers are paying an average of $71.49 for a cookout feeding 10 people this summer, or $7.15 per person — a 5% increase compared to last year, according to a survey from Indiana Farm Bureau.

Indiana’s price is approximately 1%, or 6 cents, more than the U.S. average price of $7.09 per person.

“Inflation is slowing slightly, prices are leveling out and supply chain issues that have been prevalent for the last few years are slowly getting worked out, so we are seeing just a slight increase in prices compared to the last few years here in Indiana,” said INFB Chief Economist Todd Davis.

The estimate includes ground beef, cheese, hamburger buns, pork chops, chicken breasts, pork and beans, potato salad, strawberries, chips, ice cream, cookies and lemonade.

Ice cream and strawberries saw the biggest price hikes, increasing 31% and 19%, respectively, from last year.

“When you’re shopping, look for the bargains on the protein side,” Davis said. “According to the U.S. Department of Agriculture, there’s more pork in cold storage so the prices you’re seeing at the supermarket are generally going to be a bit lower.

“Ground beef, on the other hand, our shoppers found the price to be just about the same as last year, which is encouraging because cattle herd numbers remain low across the country.”

Only 16 cents of every retail food dollar spent goes back to farmers, USDA reports. The rest is for food processing, packaging, transportation, wholesale and retail distribution, and food service preparation.

“Farmers are price takers, not price makers — just like consumers,” said Janis Highley, INFB second vice president. “Margins are still tight for farmers due to high supply costs because the amount farmers are being paid isn’t covering that increase in expenses.

“But Indiana farmers are committed to streamlining their operations to decrease costs of production as best they can, all while providing safe, affordable food not just for Hoosiers, but for families all over the world.”

More details about AFBF’s national summer cookout market basket results can be found at fb.org.