With inflation still riding around decades-high rates, Americans hosting Thanksgiving dinner are going to have to dig a little deeper in their pockets to feed their guests this year.
General inflation hit 7.7% in October, but many Thanksgiving staples face even greater increases.
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An avian flu outbreak has helped leave turkey in short supply this year. More than 50 million birds across 46 states have been affected as of Tuesday afternoon, according to the Centers for Disease Control and Prevention.
The Department of Agriculture, meanwhile, expects turkey prices to rise 23% compared to 2021.
Turkey prices are projected to increase 23% year-over-year for the fourth quarter, according to the Department of Agriculture
(Fox News)
Other ingredients for many Thanksgiving staples have also faced significant increases. In October, eggs were up 43%, butter 33.6% and flour 16.9%, according to the Department of Labor statistics.
Healthier options might be more viable: fruits and vegetables prices only grew 9.3%.
Prices for several key Thanksgiving groceries faced significant increases, Bureau of Labor Statistics data show.
(Fox News)
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The total increase for an at-home Thanksgiving basket? Nearly 15% from 2021 as of September, according to a Wells Fargo analysis.
But an American Farm Bureau Federation survey showed an even greater rise at 20% to feed a family of 10 a meal including turkey, stuffing, cranberries and pumpkin pie. That’s $64.05 on average, according to the survey — up from $53.31 last year and $46.90 in 2020.
Meanwhile, dining out will cost 6% more than last year, according to the Wells Fargo analysis.
