With Thanksgiving just over two weeks away, will Michiganders and shoppers across the country face sticker shock at the grocery store while planning their holiday meals?
There’s a mix of good and not-so-good news.
According to consumer experts, grocery inflation has eased, with prices rising just 1.3% over the past year. However, prices are more than 20% higher than four years ago.
David Ortega is a food economist and professor at Michigan State University. He says you won’t have to dig as deep for the star of the Thanksgiving menu — turkey.
“Turkey prices, they’re expected to be down compared to last year,” Ortega said. “The industry has been struggling with the bird flu outbreak over the past couple of years, but producers are better prepared now. So you can expect to find turkeys anywhere between 2% to 10% lower in price.”
The price increases this holiday season stem from several factors, including the 2019 pandemic disrupting supply chains, droughts damaging crops, avian flu, and global conflicts raising overall costs.
Ortega says you can save money by making a list before shopping and sticking to it, signing up for store loyalty programs, and only buying store brands when possible.
