According to the American Farm Bureau Federation, the Thanksgiving meal will cost Americans an estimated 14% more this year, the highest yearly rise in 31 years, yet buyers can still find bargains at grocery shops, Reuters reports.
As the epidemic snarls worldwide distribution systems and the economic impact from the summer surge of COVID-19 infections diminishes, consumers in the United States are feeling the pinch.
The Farm Bureau, which supports American farmers and the larger agricultural business, attributed the increase in the average expense of a Thanksgiving meal for ten people to $53.31 from a 10-year low of $46.90 in 2020 to inflation and supply-chain shortages. From Oct. 26 to Nov. 8, Farm Bureau customers compared pricing for turkey, cranberries, dinner rolls, and other necessities at supermarkets.
According to the Farm Bureau, the coronavirus epidemic has made it harder to estimate customers ’ demands, which has resulted in high costs. According to the Farm Bureau, average turkey costs, which are the highlight of many Thanksgiving feasts, are up 24% from 2020 to around $1.50 per pound.
The cost of the dinner has increased by 6.6 percent without the turkey. This is similar to the 6.2 percent increase in the U.S. Consumer Price Index in October, which was the index’s largest yearly jump since November 1990, albeit it is somewhat higher than the 5.4 percent increase in the Labor Department’s gauge of expenses for food consumed at home.
Thanksgiving prices have risen for the first time since 2015, and are now 7% higher than the year before, according to Farm Bureau data.