Mixed Relief for Wisconsin Families When Preparing a Thanksgiving Meal This Year

Thursday, November 2nd, 2023 -- 9:03 AM

As Thanksgiving approaches, Wisconsin families are beginning to plan their menus and think about how to save.

With that in mind, Wells Fargo has just released its annual Thanksgiving food report: “Consumers get mixed relief from Food Inflation this Thanksgiving” that can help planners keep costs down. Key takeaways include turkey is down 9% ($1.47 a lb.) while ham is up 5.2% ($4.56 a lb.).

Canned and packaged goods increased nearly 25% making fresh fruits and veggies appealing. Fresh cranberries are 20% less this year, while canned cranberries are 60% more.

Sweet potatoes remain relatively flat, with only a 4% cost increase. Romaine lettuce costs are down 10%. Beer has increased by 5.3%, while wine has only increased by 1.2%.

Lastly, every year, retail turkey prices drop sharply as we approach Thanksgiving. In fact, 84% of whole fresh turkeys are sold in November. Retailers use turkeys as a key driver of store traffic volume, so keep an eye out for sales and promotions.

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