Thanksgiving dinner costs jumps with inflation on the menu

CHICAGO, Nov. 19 (Reuters) – Thanksgiving dinner will cost U.S. consumers an average of 14% more this year in the largest annual increase in 31 years, the American Farm Bureau Federation said, though shoppers can still find deals in grocery stores.

Rising food and gas prices are pushing U.S. consumers while the pandemic is squeezing global supply chains and the economic pull from this summer’s wave of COVID-19 infections is waning.

The Farm Bureau, which represents U.S. farmers and the wider agricultural industry, pointed to inflation and supply chain disruptions to raise the average cost of a 10-person Thanksgiving dinner to $ 53.31 from a 10-year low of $ 46.90 in 2020. The price is based on Farm Bureau shoppers who checked prices on turkey, cranberries, dinner rolls and other staples in stores from Oct. 26 to Nov. 8.

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“The cranberry sauce, the filling, all the things that are traditional, have risen,” said Sherry Hooker, a 69-year-old retiree shopping at the Jewel-Osco store in Chicago on Thursday.

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The COVID-19 pandemic has made it difficult to predict consumer demand, contributing to high prices, the Farm Bureau said. Average prices for turkey, the centerpiece of many Thanksgiving dinners, have risen 24% from 2020 to around $ 1.50 per pound, the Farm Bureau said.

Without turkey, the price of the total meal has risen 6.6%. This is in line with the 6.2% increase in the US Consumer Price Index in October, where the index experienced its largest annual increase since November 1990, although slightly above the 5.4% year-on-year increase for the Department of Labor’s target. of the cost of food consumed at home. Read more

Adjusted for inflation, Thanksgiving costs have risen for the first time since 2015 and 7% higher than last year, Farm Bureau data show.

In Chicago, Cinda Shaver, 62, said she now spends at least $ 120 a week shopping for two people at the discount supermarket Aldi, up from $ 90 previously for the same items.

However, chefs can still find deals as the holidays approach.

Visits by Reuters in two grocery stores on Thursday showed that prices vary widely. The same basket of goods that the Farm Bureau checked cost only $ 40.01 at a Big Y store in Newtown, Connecticut, including frozen turkey at 99 cents per pound.

At Jewel-Osco in Chicago, generic-brand frozen turkeys were for sale for as little as 49 cents per pound.

The Farm Bureau said its customers checked prices about two weeks before most supermarket chains started offering whole frozen turkeys at lower prices. The average selling price per pounds for whole frozen turkeys was $ 1.07 from November 5-11, down 18% to 88 cents from November 12-18, the Farm Bureau said.

The good news is that the best turkey producers in the country are convinced that anyone who wants a bird for their Thanksgiving dinner will be able to get one, and a big one will only cost $ 1 more than last years, “said U.S. Secretary of Agriculture Tom. Vilsack said in a statement.

The U.S. Department of Agriculture reported that prices for Thanksgiving staples have risen about 5% compared to last year, based on government data. It tracked the prices of a 12-pound turkey, sweet potatoes, reddish-brown potatoes, cranberries and a gallon of milk.

First, Hooker will not cut back on his Thanksgiving party because of high prices. Instead, she said she would “bite into the globe and have tradition.”

“It’s once a year,” she said.

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Reporting by Tom Polansek and Christopher Walljasper in Chicago and Daniel Burns in Newtown, Connecticut; editing by Diane Craft

Our standards: Thomson Reuters trust principles.


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