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This blog will look at the winners and losers in the retail space. Who has the right strategy to capture consumer dollars? It also will look for trends in consumer spending and how that will impact the economy.
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Planning a turkey dinner with all the fixings? Plan to spend a bit more than you did last year.
It should cost an average of about 6 percent more to put a traditional Thanksgiving Day dinner for 10 on the table, according to a survey from the American Farm Bureau Federation.
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Source: foodnetwork.com Turkey |
This year's feast will cost an average of $44.61, up $2.35 from last year's $42.26, according to the AFB.
The bulk of the increase comes from the traditional star of the Thanksgiving table: The cost of a 16-pound turkey, at $19.09 or roughly $1.19 per pound, reflects an increase of 9 cents per pound, or a total of $1.46 per turkey compared to 2007.
You'll also pay about 30 cents more for rolls, 20 cents more for pumpkin pie and about 30 cents more on cranberries.
“Food prices rode the energy-price rollercoaster up during the first half of 2008 and as the year winds down, energy prices have moderated somewhat but food prices have not come down,” said Jim Sartwelle, an AFBF economist.
Perhaps, holiday hosts can take solace in the fact that this year's dinner will cost less compared with 1988 when the effects of inflation are removed.
Cost of a Turkey Dinner |
| Item | 2007 Price | 2008 Price | Difference |
| 16-pound turkey | $17.63 | $19.09 | +$1.46 |
| Cube stuffing, 14 oz. | $2.40 | $2.57 | +$0.17 |
| Pumpkin pie mix, 30 oz. | $2.13 | $2.34 | +$0.21 |
| Pie shells | $2.08 | $2.26 | +$0.18 |
| Sweet potatoes, 3 lbs. | $3.08 | $3.12 | +$0.04 |
| Rolls, 12 | $1.89 | $2.20 | +$0.31 |
| Green peas, 1 lb. | $1.46 | $1.58 | +$0.12 |
| 1-pound relish tray | $0.66 | $0.82 | +$0.16 |
| Milk, 1 gallon whole | $3.88 | $3.78 | -$0.10 |
| Fresh cranberries, 12 oz. | $2.20 | $2.46 | +$0.26 |
| Cream, 1/2 pint | $1.56 | $1.70 | +$0.14 |
| Misc. ingredients | $3.29 | $2.69 | -$0.60 |
| Total | $42.26 | $44.61 | +$2.35 |
Source: American Farm Bureau Federation |
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Data is a real-time snapshot *Data is delayed at least 15 minutes