Economist: Thanksgiving to Gobble Up More Food Dollars
West Lafayetteville, Ind. Thanksgiving prices are up about 6% this year compared to last year, according to Purdue University agricultural economist Corinne Alexander.
Food retailers are passing higher commodity and energy costs on to consumers, she said. But consumers who plan on having a traditional Thanksgiving meal at home should find bargains on several holiday staples, including turkey.
"There's a plentiful supply of turkey," Alexander said. "Turkey production in the United States is up 6% from last year. The U.S. Department of Agriculture predicts that the wholesale price of whole turkey in the Eastern market is going to be between 94? and 98? per lb.
Consumers serving ham will pay up to 4? more than one year ago, although that price increase is below the general 6? food-inflation rate, Alexander said.