(Undated) As Thanksgiving approaches, Iowa families are beginning to plan their menus and think about how to save. With that in mind, Wells Fargo has just released its annual Thanksgiving food report: “Consumers get mixed relief from Food Inflation this Thanksgiving,” which can help planners keep costs down.
The key takeaways include:
- Protein: turkey is down 9% ($1.47 a lb.), while ham is up 5.2% ($4.56 a lb.).
- Canned and packaged goods increased by nearly 25%, making fresh fruits and veggies appealing.
- Fresh cranberries are 20% less this year, while canned cranberries are 60% more.
- Sweet potatoes remain relatively flat, with only a 4% cost increase.
- Romaine lettuce costs are down 10%.
- Beer has increased by 5.3%, while wine has only increased by 1.2%
Lastly, every year, retail turkey prices drop sharply as we approach Thanksgiving. 84% of whole fresh turkeys are sold in November. Retailers use turkeys as a critical driver of store traffic volume, so keep an eye out for sales and promotions.
