Pandemic-driven shortages and supply chain hiccups have led to higher prices for turkeys this Thanksgiving.
via: CNBC
With food prices going up across the board, your upcoming Thanksgiving feast could be more pricey than last year’s. The traditional Thanksgiving dishes you make — like turkey, cranberry sauce, sweet potatoes, wine and dinner rolls could be pricier and more scarce this year because of increases in the cost of shipping materials, delivery disruptions and higher consumer demand. Last month, the consumer price index (which measures the average price change in a set of goods or services that consumers purchase) for food rose nearly 1% from August to September 2021 and 5.4% from September 2020.
After Covid-19 forced many people to have smaller holiday celebrations last year, people are planning larger gatherings this year because of vaccine availability.
Larger Thanksgiving celebrations as well as labor shortages and supply-chain issues could mean higher food prices and shortages at the grocery store, says Trey Malone, an agricultural economist at Michigan State University.
Whether you’re planning a small Friendsgiving or a large celebration with your entire extended family, you probably don’t want to be spending through the roof on your Thanksgiving dinner. Select spoke to two economists and a budget food blogger about ways consumers can save money on Thanksgiving food shopping this year.
The Wall Street Journal projected rising bird prices, Krishnakumar Davey, president of client engagement at IRI, told GMA that turkey isn’t the only Thanksgiving item seeing skyrocketing prices; in fact, most of the holiday’s mainstays are seeing prices that are five to 10 percent higher than last year.
