The Thanksgiving meal cost has risen by 20% this year. Axios Reported Wednesday
According to an American Farm Bureau survey, a traditional Thanksgiving dinner for 10 people will cost $64.05, which is a record. The farm bureau discovered that President Joe Biden’s sky-high inflation is the main cause. Economist Roger Cryan said inflation is “slashing consumers’ purchasing power.”
This report comes at a time when concerns grow about the economy under Biden. Even as the holiday season approaches some of the largest corporations are closing down jobs, with layoffs increasing by 13 percent in October. Inflation and fears of recession caused consumer confidence to plummet last month. Economists claim that Biden’s policies including his $2 trillion American Rescue Plan, and his $400 billion student loan cancellation scheme have contributed to higher inflation.
The average Thanksgiving dinner has seen the price of almost all items rise in value. Axios reported:
The average price of a 16-pound turkey is $28.96. This is almost $5 or 21 per cent more than it was a year ago, and $9.57 less than in 2020, according to the survey.
These holiday staples are the most expensive and have the largest price increases:
• 14-ounce bag of cubed stuffing mix, $3.88 (up 69 percent)
• Two frozen pie crusts, $3.68 (up 26 percent)
• Half pint of whipping cream, $2.24 (up 26 percent)
• A pound of…