What Do Rising Food Prices Mean for Thanksgiving?

Nov 16, 2022

By Wendiam Sawadgo

With Thanksgiving just a few weeks away, many families are starting to think about what they will do for the holiday this year. But this year, it might be especially important to start planning the big shopping trip earlier than usual. This is because of rising food prices, which are up 13 percent compared to last year. This is likely to affect families’ expenditures for Thanksgiving dinner, which makes it more important than ever to get the best deal.

Rising turkey costs are a hot topic, so let’s look at some of the other commonly purchased thanksgiving grocery ingredients as shown in the table below.

Thanksgiving Grocery Prices in the Southeast: 2022 vs. 2021

Data source: USDA-AMS “Weekly Advertised Fruit & Vegetables Retail Prices,” “Weekly Advertised Poultry Retail Prices,” and “Weekly Advertised Retail Prices” Reports. October 21, 2022

Item (unit)	Quantity Purchased	2021 Price per Unit	2022 Price per Unit	Price Change
Produce
Sweet Potatoes (per lb.)	3	$0.83	$0.94	-12%
Sweet Corn (ear)	6	$0.51	$0.40	28%
Butternut Squash (per lb.)	3	$0.87	$1.12	29%
Yellow Squash (per lb.)	3	$1.52	$1.55	2%
Zucchini (per lb.)	3	$1.54	$1.55	1%
Pie Pumpkin (each)	1	$2.06	$2.81	36%
Red Potatoes (5-lb. bag)	1	$2.68	$3.99	49%
Cranberries (12-oz. bag)	1	$2.49	$2.50	0%
Yellow Onions (3-lb. bag)	1	$1.98	$2.78	40%
Celery (each)	1	$1.28	$1.66	30%
Collard Greens (1-lb. bag)	2	$2.50	$2.08	-17%
Dairy
Butter (lb.)	1	$2.85	$3.55	25%
Milk (1/2 gallon)	1	$0.88	$1.29	47%
Cheddar Cheese (8-oz. block)	1	$2.48	$2.62	6%
Meat
Turkey (lb.)	15	$0.99	$1.39	40%
Bacon (lb.)	1	$5.94	$6.34	7%
Total Spending		$59.50	$70.76	20%

In addition to the turkey, almost everything is more expensive than last year. Leading the way, a 5-pound bag of red potatoes costs 49 percent more than it did in 2021. Turkey and yellow onions are both up 40 percent compared to last year. Families have also been affected by rising milk prices, which are up 47 percent over last year. Some good news: sweet potatoes and collard greens are actually less expensive than last year. And if you enjoy cranberries, those will cost about the same as they did in 2021. However, overall, the example grocery list that cost $60 in 2021 would cost $71 in 2022, or 20 percent more.

Now what can you do about rising prices?

Buy ingredients early
Shop the ads, use store apps, and/or take advantage of sales to make sure you get what you need at the lowest cost
Use generic brands for some items

Source : aces.edu

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