TYLER, Texas (KETK) – Due to grocery prices rising and shortages becoming more prevalent, this Thanksgiving could be the most costly.
Inflation caused prices to rise 6.2% for United States consumers in October according to a release from the Bureau of Labor Statistics. These heightened prices will make the holiday season harder for many families whether it comes to Thanksgiving dinner or even Christmas gifts.
The price of beef has gone up about 18%, pork is up 13% and chicken has risen 8% according to an agricultural economist at Purdue University.
Sam Greenberg, president of Greenberg Smoked Turkey, Inc., said one factor that raised prices is COVID-19, and the other being that many stores bought their turkeys ahead of time and raised the prices in time for Thanksgiving.
Since these prices have risen, some East Texans have stopped buying meat from the store and have instead started hunting to fill their fridges.
Labor shortages and numerous supply chain issues are also directly causing the prices of everyday items to climb because it is taking the companies more work to get the products made at the same rates and sent out to Americans. The current shortage of truck drivers is no help to this unique situation.
Aside from putting food on the table this Thanksgiving, it will cost a bit more for loved ones to travel to each other. The demand for crude oil and gas has gone up this year in comparison to 2020 when less people were on the roads. Experts expect these prices to either remain the same or increase with the colder season approaching.