Thanksgiving dinner will be a lot more expensive this year.
Market research firm IRI predicts that your Thanksgiving meal will cost about 13.5% more compared to last year
Even if retailers offer promotions in the weeks or days leading up to the holiday, those prices will still likely be higher than in the same period a year ago, said Alastair Steel.
It’s no surprise that Thanksgiving is expected to be more expensive this year given how high grocery prices have been in general.
Extreme weather conditions such as drought and diseases, including the highly contagious avian flu, among other factors, have contributed to stubbornly high food inflation.
Shoppers know what’s coming. About 38% of consumers are expecting to pay more for Thanksgiving meals this year
There could still be some relief in the grocery aisle,
Discount retailers like Aldi and Lidl have promised low prices on some Thanksgiving favorites this year.
Aldi said it would lower some prices to 2019 levels, and Lidl said that its typical Thanksgiving basket.
Including frozen turkey, fresh cranberries, sweet potatoes and more, will cost under $30 and feed 10 people, while supplies last. Discount retailers have picked up new customers as inflation has risen.