Tuesday, November 22, 2016

A Slightly Cheaper Feast

Americans' Thanksgiving feast this year will be less costly than last year's. A Thanksgiving dinner for 10 people will cost an average of $49.87 this year, according to a survey from the American Farm Bureau Federation. That is down 24 cents from a year ago. Adjusted for inflation, the cost of a Thanksgiving dinner fell to its lowest since 2010, the Farm Bureau said.

The Farm Bureau, which surveyed 148 volunteer shoppers across 40 states, followed prices for a range of typical Thanksgiving items including sweet potatoes, bread stuffing and cranberries. A 16-pound turkey cost roughly $22.74 this year, down 1.3 percent from a year ago. Prices of milk, pumpkin pie, and a veggie tray of celery and carrots also fell.

Food-price deflation has financially crimped farmers and ranchers, but has benefited consumers this year. In last week’s report on consumer prices, the Labor Department found food costs at supermarkets fell 2.3 percent in October, the sixth straight monthly decline and the biggest drop since 2009.

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