http://www.bloomberg.com/news/2011-11-10/thanksgiving-meal-cost-jumps-13-.htmlThe cost of a Thanksgiving dinner in the U.S. will jump 13 percent this year, the biggest gain in two decades, as prices rose for everything from turkey to green peas to milk, the American Farm Bureau Federation said.
A meal for 10 people on the holiday, which falls on Nov. 24 this year, will rise to $49.20 from $43.47 last year, the biggest increase since 1990, based on foods traditionally served including stuffing and pumpkin pie, the farm group said today in a release. Turkey was the most expensive and had the biggest gain, with a 16-pound bird up 22 percent at $21.57.
“Our informal survey is a good barometer of the rising trend in food prices this year,” John Anderson, a senior economist at the Farm Bureau in Washington, said in a telephone interview. “We are starting to see the supply response to higher prices, but there are substantial lags.”
Thanksgiving meal costs are up more than the pace of food inflation in the U.S., where the government forecasts prices will increase 3.5 percent to 4.5 percent this year, the fastest since 2008. Rising commodity and energy prices boosted the cost of food eaten at home by 6.3 percent in September compared with a year earlier, according to data from the Census Bureau.