Tuesday, November 22, 2011

Next Media Animation on Thanksgiving food inflation

From NMATV on YouTube.

The cost of Thanksgiving dinner is rising. The American Farm Bureau Federation says a Thanksgiving meal for 10 people will increase $5.73 to $49.20. That is a 13 percent rise over last year.

The American Farm Bureau Federation says the the increase is the largest in 26 years of price tracking. Much of the increase comes from the cost of the turkey. A 16-pound turkey costs $21.57, up 22 percent from last year. This is due higher turkey demand and feed costs.

Other items included in the survey are bread stuffing, sweet potatoes, rolls with butter, peas, cranberries, a relish tray of carrots and celery, pumpkin pie with whipped cream, and beverages of coffee and milk.
As the cost of turkey climbs, will substitution effect kick in and alter the composition of the traditional Thanksgiving meal?
Today is a travel day for my wife and me, but tomorrow will be a food shopping day. After being away from home for two and a half weeks out of four, I'm looking forward to eating a home-cooked meal and sleeping in my own bed.

As for the rest of you, happy food shopping and don't let food inflation keep you from having a Happy Thanksgiving!

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