Thanksgiving prices up as inflation, supply chain costs rise
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(NewsNation Now) — Halloween may be three days away, but the push for Thanksgiving is already here amid rising inflation and supply chain issues.
Shoppers have seen grocery prices rise all year due to labor shortages, but another spike is expected as demand increases for popular holiday dinner items.
Aside from supply chain issues and labor shortages, transportation costs are also rising — truck drivers who move turkeys from one location to the next are in short supply, as are workers, plus simple year-to-year inflation.
The weather has also been a factor — in Northwest Arkansas, where Walmart, the nation’s largest retailer, is based, it’s cold, raining and windy, issues that can affect the bottom line.
Meanwhile, some estimates from the American Farm Bureau say poultry is up 10%. Other estimates say it’s as high as 20%.
As a result, the overall tab for turkey and all the trimmings will be 4% to 5% more this year than a year ago. But, according to the Farm Bureau, in 2020, the cost of preparing the holiday feast came to just under $47 (for 10 people or less) — the lowest level since 2010.
