Higher prices for Thanksgiving this year. Blame food inflation.
Inflation appears poised to gobble up this year's Thanksgiving budgets, as U.S. food prices continue to soar. The cost of all food climbed 11.2% in September compared with last year, with the cost of food at home like groceries climbing 13% year on year. Leading the food price increases over the past 12 months: margarine, up 44%; flour and prepared flour mixes, up 24.2%; frozen and refrigerated bakery products like pies, tarts and turnovers, up 20.4%. While the collective category of meats, poultry, fish and eggs rose by 9% compared to September 2021, the price of eggs by itself is up 31% year over year. Other categories saw relatively smaller annual price jumps but still notched their largest-ever year-over-year climbs: The category of cakes, cupcakes and cookies was up 16%, as was the category of sweet rolls, coffeecakes and doughnuts. Uncooked turkey prices were up 17%, and processed fruits and vegetables were up 16%. The war in Ukraine has caused grain prices to surge; Ukraine...