Hoosiers See Higher Food Prices Ahead of Fourth of July

Indiana shoppers will see slightly higher prices than last year as they prepare for their Fourth of July cookout. Indiana Farm Bureau’s annual summer cookout market basket survey revealed Hoosiers are paying an average of $71.49 for a cookout feeding 10 people this summer, or $7.15 per person – a 5% increase compared to last year.

Indiana’s market basket price is approximately 1%, or 6 cents, more than the U.S. average price of $7.09 per person.

“Inflation is slowing slightly, prices are leveling out and supply chain issues that have been prevalent for the last few years are slowly getting worked out, so we are seeing just a slight increase in prices compared to the last few years here in Indiana,” explained INFB Chief Economist Dr. Todd Davis.

The total market basket price of $71.49 includes ground beef, cheese, hamburger buns, pork chops, chicken breasts, pork and beans, potato salad, strawberries, chips, ice cream, cookies and lemonade.

The two items that saw the largest increase in price were ice cream and strawberries, which increased 31% and 19% respectively from the 2024 price. However, those items were right in line with the national averages this year.

In fact, most items on the shopping list this year in Indiana were similar in price to the national averages with the biggest differences being hamburger buns and lemonade which were about 8% less than the national prices. Only ground beef and pork chops were more affordable in Indiana this year.

“When you’re shopping, look for the bargains on the protein side,” noted Davis. “According to the U.S. Department of Agriculture (USDA), there’s more pork in cold storage so the prices you’re seeing at the supermarket are generally going to be a bit lower. Ground beef, on the other hand, our shoppers found the price to be just about the same as last year, which is encouraging because cattle herd numbers remain low across the country.”

According to the USDA, just 16 cents of every retail food dollar spent goes back to farmers. The rest is for food processing, packaging, transportation, wholesale and retail distribution, and food service preparation.

“Farmers are price takers, not price makers – just like consumers,” said Janis Highley, INFB 2^nd vice president. “Margins are still tight for farmers due to high supply costs because the amount farmers are being paid isn’t covering that increase in expenses.

But Indiana farmers are committed to streamlining their operations to decrease costs of production as best they can, all while providing safe, affordable food not just for Hoosiers, but for families all over the world.”

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.

Indiana’s survey was completed in conjunction with a national survey administered by the American Farm Bureau Federation. More details about AFBF’s national summer cookout market basket results can be found at fb.org.