Everything from turkey to canned goods will cost more this year thanks to spiraling inflation fueled by President Biden’s economic policies and legislative agenda. The average cost estimate, which is often embarrassingly low to begin with, will rise around 14% this year over last. The entire supply chain is threaded into a Thanksgiving meal so it’s no wonder the whole meal will cost more this year.
Unfortunately for turkey consumers, the foods with comprise a traditional Thanksgiving meal have risen more in cost than grocery items as a whole:
Inflation is hitting Thanksgiving hard this year. A typical Thanksgiving dinner will cost an extra 14% this year, more than double the inflation rate for U.S. food prices.
A Thanksgiving feast for 10 people—including turkey, stuffing, sweet potatoes, rolls, peas, cranberry sauce, a veggie tray, pumpkin pie and coffee—will average $53.31 this year, or about $6 per person, according to the 36th annual survey from the American Farm Bureau Federation. Last year, the same meal averaged $46.90.
The average cost of around $50 always seems like a laughable number. In all the years of planning a Thanksgiving dinner, I’ve never seen a meal that costs anywhere close to that number unless you really skimp to the bare minimum.
The increase might not seem eye-popping at around $6.41, but it’s more so the rate of growth that has economists taking notice:
The 14% increase actually outpaced the 5.3% year-over-year rise in overall food prices as of last month, according to the latest Consumer Price Index report. The prices of meat, poultry and fish have been soaring, increasing 11.9% over the past year.
“Taking turkey out of the basket of foods reveals a 6.6% price increase compared to last year, which tracks closely with the consumer price index for food and general inflation across the economy,” said Veronica Nigh, the Farm Bureau’ senior economist. She added, however, this year’s total meal price increase was the largest the Farm Bureau has seen in the history of the survey, which started in 1986.
In other words, we haven’t seen this rate of inflation for decades despite what the Biden administration keeps believing about the issue being “transitory” and not likely to become a long-term problem.
It’s almost a cliche to harp on rising food costs annually, you read almost the same story every Thanksgiving. The average cost is usually going up, though it has been steady in recent years. This year, however, it’s the Biden inflation numbers causing a serious jump in the numbers making the rising costs more politically impactful. Consumers see the price increases directly, and it’s not just a few cents here and there, it’s more money for less food.
Some have taken to calling it Biden’s Thanksgiving tax:
This Thanksgiving will be the most expensive meal in the holiday’s history — a direct result of President Biden’s failed policies that have caused massive inflation.#TurkeyTax by the numbers:
Turkey ?? 18%
Carrots ?? 47%
Pumpkin pie ?? 17%
Mashed potatoes ?? 47% pic.twitter.com/PCThixUI3W— Congressman Drew Ferguson (@RepDrewFerguson) November 18, 2021
Our recent inflationary rate has caused some economists to suggest Americans will start living more like Europeans. With household goods eating more money each paycheck, Americans will just learn to downsize and minimize their lifestyle to accommodate, much like Europeans do. That should be a great sell during the midterms. Between Biden’s proposed tax increases, coupled with his reckless spending plans, America is on a path to the government sucking more money from the private economy and distributing it for government programs.
Your Thanksgiving meal cost is just the latest example of how Bidenomics is playing out across the economy and across the dinner table.
