Investors won’t have to dip into their savings to pay for their Thanksgiving feasts this year, but they may choke on their pumpkin pie when they see the bill.
The reason, of course, is inflation. Food prices overall are up 12% over the past year, but some key ingredients that go into Turkey Day dinners have seen much sharper increases. The eggs, butter, and flour you need for those delicious pies, cakes, potatoes, and gravy? They’ll cost you (respectively) 43%, 34%, and 25% more than in 2021. And you’ll shell out 17% more for that turkey.
The good news: If you’re game for a nontraditional holiday, you can get by on the cheap. Ham prices are up less than 10% from last year—and beef roasts are a screaming bargain, down 5%. (A real value play, there!)
Either way, wine drinkers shouldn’t notice much of a dent in their vino budgets this year.
Regardless of how you celebrate, all of us at Horizon wish you a very Happy Thanksgiving!
Source for all data: Bureau of Labor Statistics, 10/31/22
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