The price of a July Fourth cookout will be 5% higher in 2024 compared to last year, according to a recent survey by the U.S. Farm Bureau.

The farmer and rancher organization revealed that an Independence Day cookout for 10 people will cost an average of $71.22 this year, up from $67.73 in 2023. Despite the overall U.S. consumer price index trending lower in recent months, many Americans remain concerned about inflation, especially in an election year.

The Farm Bureau survey noted that the retail price for 2 pounds of ground beef has increased by 11% to $12.77. On the other hand, chicken prices have seen a decline of 4% from last year, now costing $7.83 for 2 pounds.

Typically, Americans celebrate Independence Day with parades, fireworks, and cookouts, enjoying foods such as hamburgers, steaks, hot dogs, chicken, and corn on the cob. The rising prices reflect a broader trend affecting most holiday staples.

Additionally, a report by the international bank Rabobank echoed these findings, indicating that the average cost of a cookout for 10 people would exceed $99 in 2024, up from $97 last year. Beverages and beef remain the most expensive items on the menu.

In May, U.S. consumer prices remained unchanged, providing a glimmer of hope for consumers. However, inflation continues to be a significant concern for many Americans, especially with the upcoming election. A recent poll showed that 43% of respondents believe former President Donald Trump would handle the economy better, compared to 37% for President Biden.

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