While last year’s cost of a Thanksgiving Day dinner was the lowest it had been since 2010, this year could be quite a bit different. A New York Times report says it could be the most expensive dinner on record in the holiday’s history.
Nearly every part of the traditional American Thanksgiving dinner will cost more, ranging from the turkey roasting pan to the coffee and pie. Executives from major food companies like Nestle have already said consumers need to be ready for even more price increases.
During 2020, COVID-19 kept people from buying for big gatherings, and turkey prices were held down to entice shoppers. This year, turkey prices may see record highs, while the cost of many other foods has also jumped much higher. Industry experts tell the New York Times that there isn’t just one culprit causing the spike.
The U.S. food supply has been hit by knots in the supply chain, the higher cost of transportation, a shortage of labor, trade policies, and bad weather. Inflation is also a problem. In September, the Consumer Price Index for food was 4.6 percent higher than 2020. Prices for meat, poultry, eggs, and fish were soaring 10.5 percent higher than last year.