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AdvisorSmith Finds the Price Increases for Thanksgiving Staple Foods

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NEW YORK - eTradeWire -- AdvisorSmith, a leading resource for small businesses that conducts original research, just published their newest analysis on the cost increases for staple Thanksgiving food items due to COVID-19.

They examined a basket of staple foods including turkey, vegetables, and baking & bread items to understand how the coronavirus pandemic affected the price of Thanksgiving dinner ingredients.

The study used data from the Bureau of Labor Statistics and the U.S. Department of Agriculture to find the change in price for these food staples. AdvisorSmith compared prices for Thanksgiving foods in October and November with the previous year at both retail and wholesale.

The data showed that Thanksgiving food costs approximately 9.8 percent more in 2020 than it did in 2019. The average price of turkeys at wholesale increased by 11.9 percent, fresh turkeys increased 11.6 percent, and frozen turkeys increased 12.2 percent in the past year. Vegetable prices rose 7.4 percent, and baking & bread items increased 7.1 percent.

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To see the full study, visit https://advisorsmith.com/data/thanksgiving-dinner-costs-up-10-percent.

About AdvisorSmith

AdvisorSmith is a leading information resource for small business owners. AdvisorSmith empowers small businesses with original research and insights into trends to help them succeed. For more information, visit https://advisorsmith.com or follow us on Twitter @AdvisorSmithInc.

Brenda Franco

Source: AdvisorSmith
Filed Under: Business

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