ORLANDO, Fla. – You’ll pay less for turkey but more for many other Thanksgiving dinner items this year, according to the 2023 Wells Fargo Thanksgiving report.
The report, released Wednesday, reassures consumers that Thanksgiving dinner will be no less expensive than it was last year despite food-at-home inflation slowing to 2.4% since last October. It points to record price spreads between what supermarkets and shoppers could pay for Turkey Day groceries.
Recommended Videos
Turkey prices in particular have dropped 30% wholesale but will only cost consumers 9% less this year, the report states. Retail ham and russet potato prices are at all-time highs, up 5.2% and 14% respectively, or $4.56 and $1.17 per pound in September. Sweet potatoes remained relatively flat with a 4% cost increase from 2022, according to the report.
Cranberries are a mixed bag, according to the report, with fresh cranberries expected to go for 20% less this year but canned cranberries for 60% more.
[EXCLUSIVE: Become a News 6 Insider (it’s FREE) | PINIT! Share your photos]
Canned green beans are up almost 9% from 2022, romaine lettuce is down about 10% and canned pumpkin prices are currently 30% higher than they were last year, the report states. Canned and packaged goods in general increased in price nearly 25%.
Turning to drinkables, beer is up 5.3% but wine is only up 1.2%, and that’s after year-over-year retail wine prices reportedly falling during the first four months of 2023.
Check out the Florida Foodie podcast. You can find every episode in the media player below: