
You may want to go ahead and start planning your Thanksgiving feast for this year – and set aside some extra money to be sure you have enough to cover it. It looks like the cost of this year’s meal could reach record highs.
Granted, last year the cost of a Thanksgiving dinner for 10 was the lowest it had been since 2010, according to the American Farm Bureau, whose annual survey of large dinners will be released Nov. 18. But because of the pandemic, fewer people bought for big gatherings, and turkey prices were kept low to entice shoppers. This year, turkey prices are likely to hit record highs, and the cost of many foods has jumped sharply.
The New York Times reports, there is no single culprit. The nation’s food supply has been battered by a knotted supply chain, high transportation expenses, labor shortages, trade policies and bad weather. Inflation is at play, too. In September, the Consumer Price Index for food was up 4.6 percent from a year ago. Prices for meat, poultry, fish and eggs soared 10.5 percent.
By the end of the year, market analysts say, turkey prices per pound will likely surpass the record Department of Agriculture benchmark price for turkeys — $1.36, set in 2015.







Comments