Thanksgiving Prices for Turkey and Potatoes Increased by 17%.

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Inflation Is Making the Thanksgiving Staple Too Valuable This Year Because of Inflation

Maybe you might want to make some room on the table for inflation this Thanksgiving—because of inflation, that’s why it’s making your festive favorites more expensive than ever.

Key Takeaways

  • Inflation costs almost all of your Thanksgiving must-haves this year compared to last year.
  • Cranberry is the only item whose price has fallen during inflationary times.
  • By planning your meals ahead of time, you will save money on Thanksgiving groceries. 

According to a Fox Us Usa analysis of the latest Consumer Price Index (CPI) data for the month of September this year, inflation is driving up your household grocery bills this year, with holiday staples like turkey and potatoes nearly 17 percent higher than last year. % more expensive.

Thanksgiving inflation’s “Meat & Potatoes”
Due to inflation, This year, inflation has increased the cost of many popular Thanksgiving items, including potatoes and turkey.

ItemPriceYearly Change
Sweet Corn$0.5011.1%
Prices are from USDA Market Retail data. The percent change in prices is from both USDA Market Retail data and BLS Consumer Price Index data. Prices for cranberries are per 12 oz. bag. Prices for boneless ham, frozen turkey, and potatoes are per pound. The sweet corn price is per ear. The pumpkin price is for marked large individual pumpkins.
Table: Fox Us Usa Source: US Bureau of Labor Statistics, US Department of Agriculture 

The most recent USDA data indicates that average prices for yellow, russet, and round white and red potatoes are up 17.5% from 2021, so be prepared to spend extra for your mashed potatoes. Frozen turkey prices are on the rise, too. According to the USDA, the average price of a turkey is closer to $2.50 per pound.

If you’ve decided to abstain from turkey this year, you should know that the price of other meats has gone up as well. According to USDA and CPI data, ham is now 8.1% more expensive than a year ago, costing around $4.54 a pound. The price is high if you want to serve sweet corn for Thanksgiving. At $0.50 per ear, it’s up 11% from last year.

Pumpkins are 2.5% more expensive than last year because of inflation, with large, individual pumpkins costing an average of $5.83 per year, whether you use them for pies, decorations, or both.

It’s not that all your favorite Thanksgiving dishes don’t cost more expensive extras. Since the price of cranberries has remained relatively stable over the past year, an average of $2.50 for a 12-ounce bag, cranberries are actually 7.7% less expensive than in 2017. Therefore, you may want to think about consuming cranberries too much. Come up with cranberry sauce or new cranberry recipes.

This can be another great way for you to take advantage of deals in an age of inflation. Planning your menu in advance, using coupons, buying store brands, and slathering your Thanksgiving meal when possible is a great ways to take advantage of your holiday grocery budget. There are additional ways to save money on accessories. To spread the cost of the meal, you can also ask everyone to contribute a dish to the Thanksgiving meal.

For anyone experiencing food insecurity, rising costs can be negative. More than 25 million Americans report not getting enough to eat at least occasionally, and this year has seen a surge in visitors to food banks. If you want help, you may be able to get it through food banks in your neighborhood. To learn more and locate a drive-thru pantry or food bank near you, visit the Feeding America website.

The Methodology for Thanksgiving 

According to data from USDA Market News Retail, all food prices are coordinated between various weighted average prices from all reports available from September 2, 22 to October 14, 22.

The September 2022 BLS Consumer Price Index is used to calculate the percentage change in prices for potatoes, turkey, and ham over the previous year. To determine the percentage change in the price of sweet corn, pumpkin, and cranberry, the average weighted average prices from September 02 to October 14 were compared with the inflation-adjusted average weighted average prices during the same week in 2021.

Prices for bags of cranberries are for 12 oz. Prices are shown per pound for potatoes, frozen turkey, and boneless ham. Sweet corn is quoted per ear. Pricing for pumpkins is for larger, individually labeled pumpkins.

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