Turkeys may not fly very far, but the price tag for one can go up a lot, along with other traditional Thanksgiving foods like cranberry sauce and pie filling.
The banquet for that holiday has not been spared from widespread inflation in the economy as a result of strong consumer demand and a shortage of labor.
According to estimates by the American Farm Bureau group, The Thanksgiving menu for 10, with sweet potatoes, muffins, a tray of vegetables and a cake with whipped cream, will cost $ 53.31 this year, 14% more than a year ago. It is an unusual increase. Before this year, the annual cost estimate had been shrinking since 2015.
A more recent study by the United States Department of Agriculture (USDA) on prices in grocery stores shows that a list of traditional Thanksgiving products up 5.5%, after the stores started making more discounts.
“Inflation is real. Everyone says so. Everyone feels it, ”said Jay Jandrain, president and CEO of Butterball, America’s largest turkey producer. “Whether it’s labor, transportation, packaging materials, energy to power plants … everything costs more.”
That North Carolina-based company, which supplies about a third of the Thanksgiving turkeys in the country, struggled to attract workers this year, causing processing delays. While that was not done, the turkeys continued to gain weight, adding to the already high costs of corn and soy feeds.
However, Jandrain claims that the labor shortage has lessened and that the company secured enough trucks to take its turkeys to grocery stores. So there will be about the same number of whole turkeys as last year, but fewer of them will be small.
“The good news is that everyone loves Thanksgiving leftovers, and there will be more this year,” says Jandrain.
According to the USDA, the median wholesale price for a frozen turkey weighing 2-4 kilograms (8-16 pounds) in mid-November was $ 1.35 per pound, up 27% from a year ago. Stores offer discounts to attract customers, and the average advertised price for a turkey of that size the week before Thanksgiving was well below wholesale cost, at 93 cents a pound, the USDA noted. In any case, it is still more than 9% higher than what it cost last year.