The American Farm Bureau Federation released its annual survey on the cost of a typical Thanksgiving Day meal. Chad Smith has more on what consumers can expect to pay for the holiday feast.
Smith: The cost of a traditional Thanksgiving Day meal for ten people is higher in 2022. Roger Cryan, chief economist with the American Farm Bureau Federation, talks about this year’s survey results.
Cryan: The survey showed this year that the traditional Thanksgiving basket serving 10 people worked out to about $64. That's about $6.50 per person, but it was about 20 percent above last year and about 36 percent over two years ago, which we recognize is a real burden for some folks.
Smith: Cryan says there are several factors driving up the cost this year.
Cryan: Part of the increases have come from general inflation, which is a real burden on everybody for everything. Part of it has come from some of the challenges in the food supply chain, including the disruption of war around the world and difficulties of just meeting a rise in demand in a recovering world economy. But it is still wonderful to live in a country where Thanksgiving supper like that is relatively affordable, and we give our thanks every year for this.
Smith: However, if you’re looking to save a bit of money on the meal, there are things shoppers can do at the grocery store.
Cryan: Every year there are opportunities to save and save money by comparison shopping. There's a range of results in our surveys, there could be a relatively wide range in these. I would say that shopping later for your turkey can sometimes get you a pretty good deal. Although you want to make sure that you don't get a frozen turkey too close to Thanksgiving so you can get it thawed before it’s time to cook.
Smith: Learn more at fb.org. Chad Smith, Washington.