Thanksgiving Troubles
Most Americans are worried about the rising cost of food this Thanksgiving.
Most Americans are worried about the rising cost of food this Thanksgiving.
86 percent say increased prices will impact their meal planning.
This is up 20 percent from last year.
WHY IT MATTERS: Reduced spending on Thanksgiving could signal a spending drop on holiday gifts, too. This will hit U.S. businesses hard.
GOBBLING UP OUR DOLLARS:
Tukey and non-chicken poultry are up 16.9 percent
Pie is up by 18.6 percent
Rolls and biscuits are up 13.6 percent
Butter is up 26.7 percent
Gravy is up 14.6 percent
THE IMPACT: FinanceBuzz asked Americans how the rising cost of food will impact Thanksgiving:
57 percent said they will look for sales at grocery stores
31 percent said they will use more coupons than normal
24 percent said they will use cheaper ingredients
21 percent said they will shop at cheaper grocery stores
20 percent said they “may cut back on food”
15 percent said they will ask guests to bring more food
15 percent said they will invite “fewer” guests
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