Turkey Costs 17% Even More This Thanksgiving Than Last Year

You may want to make some room at the table for inflation this Thanksgiving—due to the fact it’s far making your festive fall favorites lots greater expensive.
Key Takeaways
Almost all your Thanksgiving should-haves value greater this 12 months than remaining yr.
Cranberries are the handiest vacation staple that fell in charge.
Save on Thanksgiving groceries by way of planning your meal now.
As inflation keeps to pressure grocery payments better, holiday staples turkey and potatoes are up to 17% more luxurious than remaining yr, in line with The Balance’s evaluation of the modern inflation statistics from October’s Consumer Price Index (CPI).

Get ready to pay extra to your mashed potatoes—the state-of-the-art statistics from the USDA indicates that average fees for yellow, russet, and spherical white and red potatoes are up 15.2% from 2021. Frozen turkey charges also are up. According to the USDA, turkeys will cost about $1.58 per pound on average.

If you deliberate on skipping the turkey this year, it’s now not the best meat that has gotten more pricey. The charge of ham is up nine.1% from final 12 months and could value you about $4.54 in step with pound, in keeping with the USDA and CPI information. If sweet corn is a part of your Thanksgiving menu, that’s pricier, too. It’s up 12.2% from closing 12 months, at $zero.Fifty one according to ear.

Whether you use pumpkins for pie, decorations, or both, they’re nearly eight% extra high priced than last 12 months, costing $6.04 every on average for big, man or woman pumpkins.

But not all your Thanksgiving favorites are extra highly-priced. Cranberries cost a mean of $2.Fifty four consistent with 12-ounce bag, this means that that once they’re adjusted for inflation, cranberries are certainly 3.8% much less highly-priced than final year. So you might want to recall loading up on that cranberry sauce or getting creative with different cranberry recipes.

Other ways to save money on groceries for Thanksgiving include making plans your menu earlier so you can take advantage of income, the usage of coupons, shopping for store brands, or downsizing your Thanksgiving meal where you may. You also can consider having all and sundry deliver a dish to Thanksgiving dinner so you’re not the handiest one deciding to buy all the meals.

Rising prices may be specifically challenging for the ones confronted with food insecurity. More than 25 million Americans record they “every now and then” or “frequently” don’t get enough to eat, consistent with the Census Bureau, and food banks report developing numbers of visitors this yr.1 If you want assist, you may be capable of get it from local food banks. You can check out Feeding America’s internet site to analyze more and find your nearby food financial institution or force-via pantry.
All food expenses are from USDA Market News Retail facts and are medians of the weighted average expenses from all available reviews from 09/02/22 to eleven/04/22.

Year-over-yr rate percent modifications for potatoes, turkey, and ham are from the October 2022 BLS Consumer Price Index. Percent alternate in charges for candy corn, pumpkins, and cranberries was derived from the median weighted common prices from 09/02/22 to 11/04/22 as compared to the inflation-adjusted median weighted average costs from the equal weeks of 2021.

Cranberry charges are consistent with 12 ozbag. Boneless ham, frozen turkey, and potato prices are consistent with pound. Sweet corn rate is in keeping with ear. The pumpkin rate is for marked huge man or woman pumpkins.

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