Inflation driving up prices for Thanksgiving foods

News

FAYETTEVILLE, Ark. (KNWA/KFTA) – We are just a day away from Thanksgiving, and if you still have to go to the store for some last-minute items, you might notice higher prices than normal.

According to the American Farm Bureau Federation, turkeys between 8 and 16 pounds cost $0.25 more per pound more than they did a year ago.

While prices for birds between 16 and 24 pounds are about $0.21 more expensive.

The bureau’s annual survey indicates the average cost of this year’s classic thanksgiving feast for 10 is about $53– or less than $6 per person.

This is a 14% increase from last year’s average of about $47.

“Supply chain issues are part of the inflation because the supply chain isn’t operating efficiently,” said economist Jeff Cooperstein. “That just drives cost up. It leads to higher transportation costs but it also means you have shortages on the shelves.”

Cooperstein said he expects this issue to easily go into 2022, so that means after Thanksgiving we will continue to have this problem during the Christmas season, however he expects it to flatten out some next year.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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