Thanksgiving Will Be More Expensive This Year: The Farm Office – News Couple
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Thanksgiving Will Be More Expensive This Year: The Farm Office


You are reading Entrepreneur United States, an international franchise of Entrepreneur Media. This story originally appeared on The Epoch Times

Americans will experience a more expensive Thanksgiving in 2021 due to rising inflation and supply chain issues, according to the American Farm Bureau Federation.

“When you go to the grocery store and it feels more expensive, that’s because it is,” Veronica Ne, chief economist at the American Farm Bureau Consortium, told CBS News, adding that food prices overall rose 3.7 percent in 2021 versus 20 years with an average of 2.4%.

In general, Thanksgiving dinners, including turkey and all the different side dishes, will cost between 4 percent and 5 percent in 2021 compared to 2020, she said. Last year, the total cost of preparing Thanksgiving dinner was less than $47, the lowest level since 2010, the farm office said.

The Biden administration said earlier this month that it had secured commitments from the Los Angeles and Long Beach ports, as well as UPS and FedEx, to try to alleviate some of the supply bottlenecks. The Maritime exchangeThere are 105 waiting in ports as of Tuesday, he said, who tracks container ships in California’s two ports. she was there 98 container ships In the ports about a week before that.

During the COVID-19 pandemic, the closure of meat processing facilities has resulted in less meat being kept in cold storage.

“Agriculture is like everyone else — it is affected by the supply constraints that we’ve seen,” Neg said, adding that about 10 percent of food costs are related to the production of raw goods, while the other 90 percent are related to distribution, wages and other costs.

A USDA report (pdf) released on October 22 found that the price of frozen turkeys has already increased from last year, while the price of fresh birds is also higher.

Neg noted that the birds available may be larger than usual this year because producers have chosen to feed them for a longer period in anticipation of higher demand for turkey meat.

“If you can’t raise more turkeys, raise a little fatter turkey,” Neg said. She also said, “You might pay more for it than you want, but you’ll be able to find it.”

Meanwhile, higher-than-normal inflation will also affect Thanksgiving this year. According to a recent report by the US Bureau of Labor and Statistics, the Consumer Price Index rose by about 5.4 percent.

During that period, household food prices rose 4.5 percent, driven by a 10.5 percent increase in the prices of meat, poultry, fish and eggs. The report found that food prices outside the home increased by 4.7 percent. Other staples such as peanut butter, coffee and bacon also saw significant year-on-year increases.

Written by Jack Phillips

Jack Phillips is a breaking news reporter for The Epoch Times based in New York.





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