Thanksgiving Grocery Prices: What To Expect
November 20, 2024
Jessica Mathews / news@whmi.com / Michigan News Connection
With Thanksgiving less than two weeks away, will Michiganders and shoppers across the country face sticker shock at the grocery store while planning their holiday meals?
There's a mix of good and not-so-good news. According to consumer experts, grocery inflation has eased, with prices rising just 1.3% percent over the past year. However, prices are more than 20% higher than four years ago.
David Ortega is a food economist and professor at Michigan State University. He says you won’t have to dig as deep for the star of the Thanksgiving menu -- turkey. “Turkey prices, they're expected to be down compared to last year. The industry has been struggling with the bird flu outbreak over the past couple of years, but producers are better prepared now. So you can expect to find turkeys anywhere between 2% and 10% lower in price."
The price increases this holiday season stem from several factors, including the 2019 pandemic disrupting supply chains, droughts damaging crops, avian flu driving up egg prices, and global conflicts raising overall costs.
Ortega also emphasized that taking advantage of your grocery store's loyalty program or app can unlock significant savings, which sometimes offers personalized discounts tailored to your shopping habits. He shared a couple of other practical strategies to help keep your holiday meal costs in check: "Look for store brands or private labels. They're a great way to cut costs -- and often times, you're not really compromising on quality. And I suggest that you make a detailed shopping list, and that you stick to it."
Ortega adds that as shoppers become more budget-conscious, stores are offering more promotions and loyalty programs. Retailers are also working to keep holiday meals affordable, with some even matching prices from 2019.
Economists also suggest for a more budget-friendly holiday feast, consider hosting a potluck as sharing dishes not only brings variety to the table, but helps spread the costs among guests.