Americans are bracing for a costly Thanksgiving this year, with double-digit percent increases in the price of turkey, potatoes, stuffing, canned pumpkin and other staples.
In early November, Hays Culbreth's mother sent a poll to a few family members. She said she could only afford to make two sides for their group of 15 this Thanksgiving and asked them each to vote for their favorites.
The U.S. government estimates food prices will be up 9.5% to 10.5% this year; historically, they've risen only 2% annually.Lower production and higher costs for labor, transportation and items are part of the reason; disease, rough weather and the war in Ukraine are also contributors. Still, there will be plenty of whole birds for Thanksgiving tables, Jordan said. Companies have been shifting a higher percentage of birds into the whole turkey market for the last few years to take advantage of the consistent holiday demand.
Avian flu also pushed egg prices into record territory, Anderson said. In the second week of November, a dozen Grade A eggs were selling for an average of $2.28, more than double the price from the prior year, according to the U.S. Department of Agriculture. Craig Carlson, the CEO of Chicago-based Carlson Produce Consulting, said frost and a wet spring severely stunted potato growth this year. Growers also raised prices to compensate for the higher cost of seeds, fertilizer, diesel fuel and machinery. Production costs are up as much as 35% for some growers this year, an increase they can't always recoup, Carlson said.
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