A More Expensive Thanksgiving

Chart of the Week: A More Expensive Thanksgiving

As with seemingly everything else in our lives, Thanksgiving dinner is more expensive this year than last.

The Bureau of Labor Statistics gets fairly granular in its inflation tracking—though some of its category names are a little clunky, so I’ve simplified them a bit. (For example, turkey is found under the “Raw Poultry” category.) As you can see, turkey prices in October were up about 17% compared to October 2021.

But it’s the bakers among us who face the biggest price increases. If you were looking to wow your guests with a homemade pie, well, eggs, butter and flour prices are up 25% to 45% over the past year.

The fact that headline inflation ticked lower the past month is of little solace to those of us shopping for the holiday meals. Bon appétit.

Thanksgiving meal inflation
Note: Year-over-year change (non-seasonally adjusted) as of October 2022. Sources: Bloomberg, Bureau of Labor Statistics. * Including pumpkin.

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