Americans planning to celebrate the Fourth of July this year should prepare for the steepest food costs ever seen, according to recent data released by the National Retail Federation (NRF).

Amid an inflationary climate that shows no signs of easing, the average individual expenditure on food items for the holiday hit a record $93.34 in 2023.

This new figure represents an increase of $9.22 per person from the previous year, when the average cost was $84.12.

The NRF’s findings were gathered from a survey conducted between June 1 and June 7, with data derived from responses from 8,225 consumers.

This upward trend of rising food costs on the Fourth of July started in 2014 when the average per-person expenditure was merely $68.16.

The increase has continued annually, except for a slight pause in 2019.

Notably, this trend is happening as Americans grapple with stubborn inflation that reached a four-decade high last year.

An earlier statement from the Biden administration claimed, “The cost of a 4th of July cookout in 2021 is down $0.16 from (2020).”

However, the NRF survey revealed a contrary trend, with costs having actually risen by more than $4 between 2020 and 2021, a time of acknowledged inflationary pressure.

Figures from the Bureau of Labor Statistics (BLS) show a 10.9% surge in the price of consumer food goods from July 2021 to July 2022, the largest year-over-year increase since May 1979.

The BLS further detailed that “prices for food at home rose 13.1 percent,” while there was a 7.9% hike in the cost of food away from home in the same 12-month period.

A report on food inflation from Wells Fargo shows the price of beer rising by 8% over the past year.

The cost of a standard 12-ounce soft drink has jumped by 54 cents, or 14%.

The price of a pound of chocolate chip cookies and a loaf of bread increased by 14% and 22%, respectively, while the costs of ground beef and pork chops only exhibited minor increases of about 1%.

Ice cream and processed cheese also saw price jumps of 9% and 10%, respectively.

However, it’s not all bad news: the average cost of milk fell in 2023, and the prices of chicken breasts and eggs also decreased.

Meanwhile, the price of potato chips saw a significant hike, increasing by 15% since last year.

Despite the rising costs, the patriotic spirit appears undimmed, with the NRF survey reporting that 87% of respondents still plan to celebrate the Fourth of July this year.

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