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Thanksgiving Predicted to be Pricier This Year

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Thanksgiving Predicted to be Pricier This Year

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Thanksgiving has never been an economical pursuit by any means. Procuring all that nourishment, not to mention disposable eating utensils, escalated gasoline and electricity bills, and conceivably some other expenditures I’m omitting, is bound to put a dent in your wallet. This year, though, owing to the continual labor scarcities and logistical challenges, it is anticipated that Thanksgiving will be even pricier than usual.

According to a study carried out by the American Farm Bureau Federation, an average Thanksgiving feast for 10 individuals, encompassing essentials like poultry, sauce, filling, yams, cranberries, and more, will incur at least 14% more on average this year. That translates to an average cost of around $53.31, a $6 uptick from the previous year.

“These include noteworthy upheavals to the US economy and logistical networks over the past 20 months; inflationary force across the economy; complexities in anticipating demand during the COVID-19 pandemic and elevated worldwide demand for food, particularly meat,” mentioned Veronica Nigh, senior economist with the American Farm Bureau Federation.

The cost of poultry, in particular, has soared by 24% compared to last year, with a single fowl priced at over $20. Nonetheless, grocery retailers are also keen on selling off their entire inventory to garner whatever income possible, hence prices may commence to decline in this final week leading up to the festivity.

“Omitting poultry from the assortment reveals a 6.6% price hike compared to last year, which aligns closely with the Consumer Price Index for food and widespread inflation across the economy,” Nigh remarked.

Despite the upsurge in prices and potential shipping delays, the US Department of Agriculture remains optimistic that anyone wishing to partake in dinner this year will still have the opportunity. “We realize that even minor price escalations can impact family finances, and we are taking all possible measures to alleviate that. The positive aspect is that the premier poultry producers in the nation are confident that everyone seeking a turkey for their Thanksgiving meal will be able to obtain one, and a substantial bird will only incur an added $1 compared to last year,” US Secretary of Agriculture Tom Vilsack disclosed to CNN.

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