INDIANAPOLIS (Inside Indiana Business): Hoosiers will be digging deeper into their pockets to host a July 4th cookout this year. The Indiana Farm Bureau has released its annual market basket survey that shows it will cost shoppers 13% more this year to serve a traditional meal, including burgers, sides and dessert.
The average cost of a summer cookout for 10 people in Indiana is $64.32. The shopping list included ground beef, cheese, hamburger buns, pork chops, chicken breasts, pork and beans, potato salad, strawberries, chips, ice cream, cookies and lemonade.
While most items are more expensive than last year, Hoosiers are still paying 8% less than the national average, according to INFB.
Ice cream saw the biggest hike in the Hoosier State, up 54% from 2021. A half-gallon goes for $4.49, compared to $2.92.
Chicken breasts shot up 38%, now sitting on average at $8.77 for a two-pound package.
The Indiana Farm Bureau says the farmers’ share of the $64.32 bill is about five dollars. The rest accounts for food processing, packaging, transportation, wholesale and retail distribution, food service preparation and other marketing costs.
“Generally, farmers are price takers, not price setters,” said Isabella Chism, INFB 2nd vice president. “When our crop or animal is ready to sell, we have to sell at the current commodity price. Farmers are consumers too, and we are experiencing the surge in prices on the farm as well as in the grocery store like other Hoosier shoppers.”
The INFB summer cookout market basket survey was conducted in early June by volunteer shoppers across the state who collected prices on specific food items from one of their local grocery stores.
Volunteer shoppers were asked to look for the best possible prices, without taking advantage of special promotional coupons or purchase deals.
The American Farm Bureau Federation says the bill is even higher nationally. Click here to learn how much more.