The American Farm Bureau Federation's annual survey of holiday food prices out Wednesday shows the full spread will run a party of 10 about 4.5% less in 2023 than in 2022.
Her analysis, in fact, and the evolution of the farm bureau's Thanksgiving meal prices are a micro-version of the larger pandemic inflation story that households, elected officials and the Federal Reserve have been grappling with.
The good news: The pace of change may remain slow going forward, with supply problems now largely sorted out and recent producer price data pointing to modest food inflation ahead.
According to the farm bureau turkey prices are likely headed even lower after their survey.
"Consumers who have not yet purchased a turkey may find additional savings in the days leading up to Thanksgiving," the organization said in a news release.
Persons:
Betty Resnick, Resnick, Howard Schneider, Andrea Ricci
Organizations:
American Farm Bureau, Federal Reserve, Reuters, Federal, AAA, airfares, Consumers, Farm Bureau, Labor Department, Thomson