Thanksgiving Prices Gobble Up Cash

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The American Farm Bureau Federation published an informal survey that found a 13% increase in the cost this year for a traditional Thanksgiving dinner.

The average price is estimated to cost consumers $49. 20 compared to last year's$43.37.

The AFBF included typical foods in their survey such as rolls, cranberry sauce and mashed potatoes. The biggest jump in price from last year is the cost of a turkey.

Experts say this is due to a higher consumer demand both domestically and abroad.

A turkey this year on average costs about .25 cents per pound more than it did last year. But Foodland manager Jim Oppe says their store is absorbing some of that cost so customers won't have to.

"In our area I would doubt that it's actually 13%. What we've seen mostly is the price of turkeys has went up. The wholesale cost for stores is averaging around 15 cents a pound whereas stores from last year have only raised them 10 cents a pound," says Oppe.

"There are also a lot of other deals throughout the store that is basically the same price as last year. The dressings, potatoes and those things are the same exact price as they were last year. So I don't know that we're seeing total 13% increase across the board."

Most stores are following this same pattern. The food inflation rate this year is the lowest it has been since 1962.

Experts say the poor crop yield this summer is a main cause for increased prices during this holiday season.

A Thanksgiving dinner averages out to about $5 per person, which is a pretty good deal when you factor in leftovers.

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