PwC estimates Thanksgiving will cost the average American family about $90 this year, up from $88 last year, as grocery prices rise amid a 4-month high in inflation driven partly by higher gasoline prices from the Iran war. Turkey is expected to cost nearly 8% more than last year, and cranberry prices are forecast to rise nearly 15% due to a smaller harvest and higher production costs. Some offsets exist, as butter is down 10% and cream down 6%. Experts advise shopping early for shelf-stable essentials, and retailers are promoting deals, including Aldi's basket for a party of 10 under $39 and Sam's Club's roughly $160 meal that feeds up to 16 people.
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Original headline: Thanksgiving food forecast : Prices going up , but there are bright spots
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- Thanksgiving food forecast : Prices going up , but there are bright spots
Grocery prices are rising ahead of Thanksgiving, which is six weeks away, with PwC expecting the average American family to spend about $90 this year versus $88 last year. Turkey is forecast to cost nearly 8% more and cranberries about 15% more due to a smaller harvest and higher production costs, while butter is down 10% and cream down 6%. The increases come as inflation hit a four-month high amid the Iran war's effect on gasoline prices. Experts advise planning early and buying shelf-stable essentials ahead of sales, and retailers such as Aldi (a meal basket for 10 under $39) and Sam's Club (about $160 for up to 16 people) are offering deals.
- Thanksgiving food forecast : Prices going up , but there are bright spots
According to PwC, Thanksgiving dinner is expected to cost the average American family about $90, up from $88 last year, as food prices rise amid inflation at a 4-month high driven by the Iran war's effect on gasoline prices. Turkey is forecast to cost nearly 8% more, and cranberry prices are expected to rise nearly 15% due to a smaller harvest and higher production costs. A bright spot is butter, down 10%, and cream, down 6%, which will offset some of the increases. Experts recommend preparing early and buying shelf-stable essentials that go on sale ahead of time. Aldi's Thanksgiving basket for a party of 10 is priced under $39, while Sam's Club's meal deal costs about $160 and feeds up to 16 people.
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