- Some economists predict that this will be the most expensive Thanksgiving ever
- The United States Department of Agriculture reports that turkey production is down 2 percent this year, attributed to the lack of workers in processing plants and fewer truck drivers delivering turkeys to stores
- This Thanksgiving, an eight to 16 pound turkey has risen in price by 22 percent, from $1.15 per pound to $1.41, according to a USDA Turkey Market News Report
DENVER, Colorado: Some economists predict that this will be the most expensive Thanksgiving ever.
The United States Department of Agriculture reports that turkey production is down 2 percent this year. They blame the shortage on the lack of workers in processing plants and fewer truck drivers delivering turkeys to stores.
This Thanksgiving, an eight to 16 pound turkey has risen in price by 22 percent, from $1.15 per pound to $1.41, according to a USDA Turkey Market News Report.
University of Colorado professor of economics Jeffrey Zax blames supply chain issues for the jump in turkey prices, along with other Thanksgiving favorites.
“When supply is reduced and demand is not, price goes up,” Zax said. “What’s available to us is going to be less than we would ordinarily expect. In economist’s terms, that means supply is going to be reduced,” said Zax, as quoted by The Denver Channel.
However, Zax does not anticipate that shoppers will be unable to purchase turkeys.
“We may rush out and buy one, but it’s not like toilet paper where we’re going to stockpile and buy four,” Zax said. “As Thanksgiving approaches, you’ll see people thinking about alternate menus.”
To Jennifer Hill, of Denver, high prices means that this Thanksgiving she will not serve turkey.
“We’re just keeping it very small. We’ve never gone this small before, and that’s fine,” Hill said. “It’s really tough. Got to pinch pennies to make something special,” she told The Denver Channel.
Meanwhile, Instacart shopper Chrissie Norris reports that some customers had her return turkeys to stores when they saw the prices for this year’s birds.
“They called us back because they didn’t want the turkeys.. You can’t pay $27 for a turkey under three pounds.”
