As the Independence Day holiday approaches next Monday, it will no doubt mean family gatherings all over this country. With the increase in inflation, most consumers know to expect to be paying a little more for the food at those celebrations.
But, how much more?
According to the American Farm Bureau Federation?s (AFBF) annual marketbasket survey, the average cost of a meal for 10 is $69.68, which is less than $7 per person. AFBF Chief Economist Roger Cryan says that the cost is up seventeen percent from last year.
But for you consumers out there who hear about high costs for food, higher commodity prices, and such, please remember the Farmer isn?t seeing very much increase in income as a result of the higher cost of the food.
Cryan says that the Ukraine war is also having an effect on food prices because of supply disruption out of that region.
The situation in Ukraine should make this year?s Independence Day celebrations a little more poignant as well.
