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According to a survey by the American Farm Bureau Federation, the price tag to for enough classic fixings to feed 10 is up $5.73, or about 13 percent over last year. It’s the biggest jump since 1990.
The classic fixings include turkey, bread stuffing, sweet potatoes, rolls with butter, peas, cranberries, carrot and celery relish, pumpkin pie with whipped cream, plus milk and coffee.
John Anderson, senior economist at the American Farm Bureau Federation, said that the price of turkey alone is up 25 cents a pound for a 16 pounder, a 22 percent increase. He attributes the uptick in part to the fact that turkey feed is mostly corn and the price of corn is up as the demand for ethanol rises.
Anderson says that another factor is that retailers are being more aggressive about passing on higher costs for shipping, processing and storing food to customers.
But Anderson is quick to point out that even with the increased price of a meal on Turkey day, home cooking a meal for ten is still a good deal.
“It remains a better value than most fast food meals, plus it’s a wholesome, home-cooked meal,” he said.
Throughout the week, Here & Now is looking at the impact a raise in the minimum wage would have on states, the federal government and workers.