Thanksgiving meal 17% more expensive in 2021
FILE - A cooked turkey in a roasting pan with a meat thermometer is pictured in a file image during the preparation of a Thanksgiving holiday meal in San Ramon, California, on Nov. 23, 2019. (Photo by Smith Collection/Gado/Getty Images)
MADISON - The Wisconsin Farm Bureau says the average Thanksgiving meal is 17.25% more expensive than in 2020.
In a survey from Marketbasket, they took a look at the price of popular food items in quantities to serve 10 people. Comparatively, the American Farm Bureau Federation’s survey of the same items showed a 14% increase over 2020 prices nationally.
"It is no secret that the supply chain has been significantly disrupted in the past year as a result of the COVID-19 pandemic," said Wisconsin Farm Bureau’s Director of Media Relations and Outreach Cassie Sonnentag. "Increased costs from processing to transportation have led to increased food prices, particularly in protein products."
The centerpiece on most Thanksgiving tables – the turkey – is the driver of the meal’s price increase. Nationally, the price of turkey saw a 25% increase per pound from 2020 to 2021. In Wisconsin, that price saw a 40% jump. In addition to inflation, the price increase can be credited to several causes, including disruption to the supply chain, increased at-home food consumption and demand prediction.
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"Predicting demand has been a challenge this past year," said Sonnentag. "There was a 4% decrease in turkey production nationwide largely due to the uncertainty of gatherings due to the COVID-19 pandemic in early 2021. Turkeys are grown under contracts that are signed well in advance, which drove this year’s production decrease."
While the price of the Thanksgiving staple remains high, it is important to recognize that grocery store promotions on turkey began significantly later this year.
"It is likely that shoppers will get a better deal on turkey purchases closer to the holiday than survey shoppers did earlier in the month," said Sonnentag.
The USDA says Americans will spend approximately 10% of their disposable annual income on food, the lowest average in the world.
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