American consumers have gotten all too used to stories about the rising cost of food, as persistent inflation pushed up prices across the board. But this is not one of those stories.
Thanksgiving is around the corner, and there’s one aspect of the holiday to be especially thankful for: Turkeys look to be quite a bit cheaper this year.
Tumbling Turkey Prices
In October, store prices for a turkey weighing 10 to 15 pounds dropped 13% year-over-year, mainly due to a surplus of birds.
It also helps that inflation has cooled considerably since last November, and the supply chain issues brought on by the pandemic are in the rearview mirror. The cost of refrigerated trucks to deliver turkeys to stores has decreased from $3.80 to $3.30 per mile year-over-year.
However, while the largest expense for your Thanksgiving feast may be down, the sides could cost extra. Packaging and labor costs have increased this year, driving up prices for canned goods like cranberries, green beans, and pumpkin.
Cornucopia of Savings
One way to save on sides might be to buy fresh produce rather than canned. For example, canned cranberries will be 60% more expensive this year on average, while fresh cranberries are about 20% cheaper.
Here’s another Thanksgiving saving tip: Don’t take advantage of these turkey savings just yet. Many supermarkets will offer hefty discounts on turkeys during the two weeks leading up to the holiday.
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