As Thanksgiving day comes, Americans can expect to pay more for their turkey this year than ever before with residents of some states experiencing massively heightened costs due to the rampant inflation which continues to ravage the economy.
An analysis from FinanceBuzz revealed that across the nation, the average household could expect to see a 15-pound turkey go for about $34.15. However, in some states, namely Hawaii, which has a higher cost of living, and Alaska, which does not have a native turkey population, prices were as high as $50.35 and $49.85, respectively.
Meanwhile, on the mainland, residents of South Carolina paid an average of $38.85 per bird, while residents of Georgia saw prices sit at around $37.35 per bird. Other states such as Minnesota and Idaho as well as coastal states such as California, New Jersey and New York also saw turkey prices sitting above average. The least expensive birds could be found in Mississippi and Texas where prices are $26.35 and $28.30, respectively.
The uptick in turkey prices is a multipart problem. Flocks of birds in 46 states and 332 counties are currently experiencing an outbreak of avian flu, according to data from the Centers for Disease Control and Prevention. The number of poultry impacted by the outbreak sits at around 46 million, not far off from the number of turkeys Americans consume on Thanksgiving, according to data from the University of Illinois.
Turkeys, however, aren’t the only impacted Thanksgiving traditions. More data from FinanceBuzz also revealed that other Thanksgiving fare such as potatoes, pies and stuffing are also significantly more expensive this holiday season.
According to a report from the American Farm Bureau Association, households preparing to feed 10 people during the holiday could expect to spend about $64.05 for the meal, an almost $11 increase from the $53.31 families expected to pay in 2021, which was already an increase on the $43.90 price tag of a Thanksgiving dinner in 2020.
Americans on the West Coast were expected to pay $71.37, while those in southern states were expected to spend a more modest $58.42.
“General inflation slashing the purchasing power of consumers is a significant factor contributing to the increase in average cost of this year’s Thanksgiving dinner,” Farm Bureau Chief Economist Roger Cryan remarked in a press release. “Other contributing factors to the increased cost for the meal include supply chain disruptions and the war in Ukraine. The higher retail turkey cost at the grocery store can also be attributed to a slightly smaller flock this year, increased feed costs and lighter processing weights.”
Inflation has slowed economic activity over the past two years as Americans struggle to get by. Price levels rose 7.7% between October 2021 and October 2022, according to a report released by the Bureau of Labor Statistics. While this is a decrease from the 9.1% year-to-year inflation rate from earlier this year, the lower number was driven by declines in areas such as used vehicles, apparel and medical care services that have a lower day-to-day impact on consumers.
Overall, food prices rose 0.6% month-to-month while energy prices rose 1.8%, the first such increase since June. Shelter costs rose 0.8%, marking their fastest increase since the beginning of the year.
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