Cooking out this Fourth of July will cost about 5% more than last year, according to the Indiana Farm Bureau.
A shopping survey found an Indiana cookout with summertime staples like hot dogs, cheeseburgers, ribs and watermelon will cost an estimated $52.56 for 10 people, or $5.26 per person, this year.
“Despite minimal increases this year, Indiana food prices continue to remain affordable, and just below the national average,” said Isabella Chism, Indiana Farm Bureau second vice president. “Hosts gathering with family and friends this year can feed the crowd on a budget if they purchase the more affordable items in our market basket this year, like hot dogs and hamburgers.”
Nationally, the average cost of a summer cookout for 10 people is projected to be $52.80, or about 1% more than the Indiana average, according to the American Farm Bureau. The estimate is based on the prices of ground beef, American cheese slices, hot dogs, ketchup, mustard. buns, watermelon, spare ribs, baked beans, potato salad, corn chips, and prepared lemonade.
Prices increased year-over-year in Indiana for deli potato salad, hamburger and hot dog buns, ketchup, pork spare ribs, ground beef, hot dogs and baked beans. The prices of cheese, watermelon, corn chips, lemonade and mustard all declined in the Hoosier state.
The biggest increases this year in Indiana were a 22% hike in the price of potato salad, a 12% increase in the cost of ketchup, and an 11% jump in the price of hamburger buns.
Farmers make about $8 in revenue from the $52 market basket, down from the 30% of consumer retail food purchases they earned in the 1970s.
“Only a few years ago, I mentioned that the farmer’s share of our food dollar was around 16 cents. That share continues to decline for farmers and is now under 15 cents,” Chism said. “Hoosier farmers continue to find ways to streamline their operations and decrease costs of production to accommodate for this shift. Nevertheless, our farmers still provide safe, affordable food for Hoosiers and families all over the world.”