Thanksgiving Dinner May Be Most Expensive Ever
According to CBS News, who spoke with the American Farm Bureau Federation, prices will be higher on just about everything because of inflation.
“When you go to the grocery store and it feels more expensive, that’s because it is,” said Veronica Nigh, senior economist at the American Farm Bureau Federation.
According to the Farm Bureau, the average cost of preparing Thanksgiving dinner in 2020 was about $47, and it’s expected to cost up to 5% more this year.
Corn, which is used to feed turkeys, is more expensive, and that’s causing an increase in the cost of turkeys.
Prices on beef, poultry, fish, and eggs are up more than 10%, FOX reported.
Also, many baking goods are being affected by ongoing shipping delays, which means fewer items are getting to store shelves, driving up prices even more.
Earlier this month, the Labor Department reported a jump in consumer prices in September that sent inflation up 5.4% from where it was a year ago. That matched the largest increase since 2008 as snarled global supply chains continue to create havoc.