Thanksgiving Inflation: 11%

by: Barry Ritholtz

"A Thanksgiving Day turkey dinner with side dishes and dessert will be 11% more expensive this year, the biggest annual increase since 1990, because of depleted frozen-turkey supplies and rising energy prices.

The average cost of 12 items typically served during the Nov. 22 holiday in the U.S. rose to $42.26 from $38.10 last year, the American Farm Bureau Federation said Thursday."

-American Farm Bureau Federation

Here's the kicker: "Adjusted for inflation, the cost is $20.46, about 9% less than in the first survey in 1986."

Why do I suspect no one really believes that?

The American Farm Bureau Federation Turkey Dinner


I don't what family of 10 they think they are gonna feed with that short list (12 OZ cranberries? A pound of peas?)

Enjoy your Thanksgiving!

Sources:
Thanksgiving Dinner Cost Inches Higher This Year
November 15, 2007
http://www.fb.org/newsroom/nr/nr2007/11-15-07/thanksgiving_graphic_07.pdf

Turkey dinner to cost you 11% more
Los Angeles Times/Bloomberg News
November 16, 2007
http://www.latimes.com/business/la-fi-turkey16nov16,1,1421112.story

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