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How To Save Money This Thanksgiving

Photo by <a href="">Claudio Schwarz</a> on <a href="">Unsplash</a>

Thanksgiving planning can be stressful and with the increase in the cost of living and the rising inflation, many families are worried about what the Thanksgiving meal will cost them. While inflation rates have slowed down since October and the consumer price index (CPI) has started to stabilize, the cost of food has remained around 12.4 percent higher than it had been in the last year.

According to research by WalletHub the average host should expect to spend around $392 for this year’s Thanksgiving dinner. This will include everything from decorations, to food and drinks. This price tag is also around 10 to 15 percent higher than it had been last year.

Turkeys are also going to be particularly expensive this year, due to some problems in the supply chain and a year when the Avian flu outbreak killed over 49 million birds in the United States. Of those, 6 million were Turkeys according to the records from early 2022 that the Centers for Disease Control and Prevention (CDC) has published.

This is why some have recommended that this might be the year when Turkey might need to be put on the backburner and people should instead choose roast chicken for their dinner table. The price of a 16-pound whole frozen turkey has gone up by around 40 percent in the last year. This means that the price went from $17.23 in 2021 to $25.36 in 2022. This makes Turkey officially one of the most expensive items on the menu. Bakery product prices have also increased by 15.9, and dairy prices have gone up by 15.5. percent.