The cost of turkey represents 45% of the classic Thanksgiving basket of food prices the bureau tracks.
"Inflation is still clearly impacting food prices," Veronica Nigh, senior economist of AFBF, said in a press call.
People are paying more at the grocery store.
Consumers can expect to pay around 20% less for fresh cranberries compared to a year ago while canned cranberry sauce is up 7% from last year, Wells Fargo found.
It "might actually be cheaper to go to a grocery store that you're not used to going to," Palmer said.
Persons:
Veronica, AFBF, Kimberly Palmer, There's, Wells, Mark Hamrick, Maren Caruso, Palmer
Organizations:
American Farm Bureau, Finance, UBS, Bankrate, Stone
Locations:
U.S, Puerto Rico, . Ham, Wells Fargo