(WJW) – The price of your Thanksgiving feast is expected to be higher this year.
According to CBS News, which spoke with the American Farm Bureau Federation, prices will be higher on just about everything due to inflation.
“When you go to the grocery store and it seems more expensive, it’s because it is,” said Veronica Nigh, senior economist at the American Farm Bureau Federation.
According to the Farm Bureau, the average cost of making Thanksgiving dinner in 2020 was around $ 47, and it’s expected to cost up to 5% more this year.
Corn, which is used to feed turkeys, is more expensive, resulting in an increase in the cost of the turkeys.
Prices for beef, poultry, fish and eggs have increased by more than 10%, FOX reported.
Additionally, many bakery products are affected by continuous shipping delays, which means fewer items arrive on store shelves, pushing prices up even more.
Along these lines, the higher cost of gas also contributes to the rise in prices.
The average price of regular gasoline in the United States this week has climbed 13 cents over the past two weeks, to $ 3.44 per gallon. The price at the pump on Monday was $ 1.22 higher than a year ago.
Earlier this month, the Labor Department reported a rise in consumer prices in September that pushed inflation up 5.4% from a year ago. This is the biggest increase since 2008, as harassed global supply chains continue to wreak havoc.
Last week Federal Reserve Chairman Jerome Powell said the tangled supply chains and shortages that have crippled the US economy since the summer have worsened and will likely keep inflation high. until 2022.
The Associated Press contributed to this report.
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