Although food inflation is easing, consumers shouldn't expect too much relief when shopping for their Thanksgiving meal. However, consumers will luck out with turkey prices.
Wells Fargo economists warned that shoppers shouldn't expect tremendous Thanksgiving savings even with food inflation easing. The turkey will cost less, but the overall feast won't likely be any cheaper than last year, according to Wells Fargo Agri-Food Institute Chief Agricultural Economist Dr. Michael Swanson. Last month, government data showed that food at home prices – which is food purchased at supermarkets – climbed 2.4% higher than a year ago.
"They put in a couple million extra turkey in July of this year versus the previous year and that additional supply is forcing them to be very aggressive selling their turkeys to the supermarket at a much lower price," Swanson said. Wholesale prices for turkeys, the cost retailers pay to suppliers, are down 30% compared to a year ago for that reason, Swanson said citing United States Department of Agriculture's Weekly National Turkey Report.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dear Abby: How should I handle an upcoming Thanksgiving dinner?A woman writes Dear Abby, inquiring about an upcoming Thanksgiving dinner.
Read more »
LA’s The Pie Hole co-founder Rebecca Grasley talks pies and ThanksgivingHer new cookbook, “Pie is Messy” shares tips and tricks for baking your best Thanksgiving pies yet.
Read more »
Our Definitive, Per-Person Guide to Planning Thanksgiving DinnerI like esoteric facts about vegetables. Author of the IACP Award-nominated cookbook, Cooking with Scraps.
Read more »
These on-sale iRobot Roombas can help keep your floors clean during Thanksgiving and ChristmasAmazon has must-see robot vacuums deals on iRobot Roombas to help you keep your home clean for the holidays.
Read more »
Alamo Drafthouse Hosting Early Screening of Eli Roth's 'Thanksgiving'Eli Roth's Thanksgiving will get an early screening on November 15 at Alamo Drafthouse including a special message from Roth and commemorative masks.
Read more »