The newest numbers from the Bureau of Labor Statistics present inflation eased, however was nonetheless stubbornly excessive in October.
TARRANT COUNTY, Texas — Thanksgiving is lower than two weeks away, and for those who plan on internet hosting a traditional Thanksgiving dinner, it’ll cost you extra this 12 months.
The newest numbers from the Bureau of Labor Statistics present inflation eased, however was nonetheless stubbornly excessive in October. Consumer inflation reached 7.7% in October from a 12 months earlier and 0.4% from September, the Labor Department stated Thursday.
Data from the Bureau of Labor statistics exhibits the cost of turkeys is up 17% from October 2021 to October 2022. Compared to a 12 months in the past, butter has gone up 26%, canned fruit and veggies are up 18% and potatoes are 15% greater.
Russell Boening, president of the Texas Farm Bureau, has tracked rising meals prices during the last 12 months.
In 2021, the Texas Farm Bureau estimated a median, traditional Thanksgiving dinner for 10 folks would cost $53. The estimated cost relies on a checklist of things, together with: turkey, stuffing, candy potatoes, rolls with butter, peas, cranberries, a veggie tray, pumpkin pie, espresso and milk.
This 12 months Boening tasks the identical Thanksgiving meal will cost much more.
“Nobody likes to see the cost of everything go up, but everything has gone up,” Boening stated. “We’re looking at a little over $60 for 10 people.”
WFAA shopped the complete checklist compiled by the Texas Farm Bureau. When evaluating the grand complete (together with taxes) for the bottom priced objects at three groceries shops, each in-store and on-line, a traditional Thanksgiving meal for 10 would cost not less than $65.
Walmart is promising households this 12 months’s Thanksgiving meal finally 12 months’s value.
As for high quality time with family and friends? That’s priceless.
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