Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 22/05/2022 07:49 
24.11.2021 10:12 News >> Amid Record Inflation, US Thanksgiving To Cost 20% More

Amid Record Inflation, US Thanksgiving To Cost 20% More

Turkey prices up 23% from last year, 10 person dinner rises 14%

The cost of a Thanksgiving dinner in the US has jumped around 20% from last year, as the world's largest economy struggles with record high inflation, according to data compiled by Anadolu Agency.
Turkey prices are up around 20% year-on-year, according to the US Department of Agriculture (USDA). A 16-pound turkey costs around $1.41 per pound, up 23% from last year.
Apart from turkey, almost everything on the Thanksgiving dinner table has seen a price surge, from potatoes and cranberries to green beans, onions, parsley and rosemary.
While there is more demand for food this year, since families could not gather last year because of the coronavirus pandemic, much of the price increase is attributed to the rising cost of farming and energy prices, in addition to labor force shortages.
American consumers are expected to spend $312 on average during the five-day Thanksgiving weekend. A 10-person Thanksgiving dinner is estimated to cost $46.20, according to personal finance website WalletHub.
The American Farm Bureau Federation, however, said a feast for 10 people is estimated to cost $53.31 on average -- a 14% increase from the 2020 average of $46.90.
US consumers, however, are facing the highest inflation since 1990 during the current Thanksgiving weekend and holiday season.
The consumer price index (CPI) rose 6.2% in October, the largest 12-month increase since November 1990. Core CPI jumped 4.6% year-on-year, its largest 12-month rise since August 1991.
Holiday shopping, food waste
Fewer people are projected to shop during Thanksgiving weekend, compared to pre-pandemic levels.
Nearly 2 million more people than last year are expected to shop from Thanksgiving Day through Cyber Monday, according to the National Retail Federation.
An estimated 158.3 million people are expected to shop Thanksgiving weekend, it said. Although that level is up from 156.6 million in 2020, it is still below the 165.3 million before the pandemic in 2019.
Some 30.6 million plan to shop in-store or online on Thanksgiving Day, 108 million the day after on Black Friday, 58.1 million the following day on Small Business Saturday, 31.2 million on Sunday and 62.8 million during Cyber Monday, according to the federation survey.
As seen in previous years, consumers will shop multiple days and will continue the trend of beginning holiday shopping earlier.
While 61% of consumers have already started holiday shopping, 46% have begun earlier this year than they typically do, according to the federation survey.
The USDA, meanwhile, urged against Thanksgiving dinner leftovers, during which 200 million pounds of turkey and 150 million pounds of side dishes are estimated to go to waste in a single day, it said.
A family of four in the US tosses around 1,160 pounds, or $1,500 worth of uneaten food on average annually, according to the agency. -



        Latest News
Libyan Premier, Warlord Make Condolence Visits To Abu Dhabi 40 minutes ago...
Abdul Hamid Dbeibeh, Khalifa Haftar received separately by new Emirati President Mohamed bin Zayed.
Maras Solely Under Northern Cyprus's Jurisdiction: Turkish Republic Of Northern Cyprus 10 minutes ago...
Northern Cyprus denies claims by Greek administration of Southern Cyprus that TRNC decided to open new beach in Maras.
Anadolu Agency's Morning Briefing - May 22, 2022 25 minutes ago...
Daily briefing on latest developments in Turkiye, other developments.
Turkish Americans Hold Parade, Festival In New York City 25 minutes ago...
Madison Avenue filled with Turkish, American flags, convoy of vehicles.
Italian Premier, Ukrainian President Discuss Russia's War 40 minutes ago...
Mario Draghi confirms Italy's full support for Ukraine's accession to EU.

 
      Top News
Colombian President Hails Turkiye For Declaring Bogota A 'Strategic Partner' Colombian President Hails Turkiye For Declaring Bogota A 'Strategic Partner'
Colombian President Hails Turkiye For Declaring Bogota A 'Strategic Partner' Colombian President Hails Turkiye For Declaring Bogota A 'Strategic Partner'
US Fed Official Does Not Expect Recession Unless Large Shock To Economy US Fed Official Does Not Expect Recession Unless Large Shock To Economy
Galatasaray Draw With Antalyaspor To End Disappointing Season Galatasaray Draw With Antalyaspor To End Disappointing Season
Turkiye Not To Change Stance As Long As Sweden Has Ties With PKK Terrorists: Envoy Turkiye Not To Change Stance As Long As Sweden Has Ties With PKK Terrorists: Envoy
Qatar To Play 'Central Role' In Germany's Energy Strategy, Scholz Says Qatar To Play 'Central Role' In Germany's Energy Strategy, Scholz Says
EU Consumer Confidence Down 0.4 Points In May EU Consumer Confidence Down 0.4 Points In May
Germany Extends Military Mission In Mali Germany Extends Military Mission In Mali
Turkish Central Bank Reserves At $106.9B In April Turkish Central Bank Reserves At $106.9B In April
North Korea Could Test Intercontinental Ballistic Missile During Biden's Asia Trip, Says Japan North Korea Could Test Intercontinental Ballistic Missile During Biden's Asia Trip, Says Japan