Those shopping for Thanksgiving dinner will likely enjoy lower costs this year.
Agricultural economist Corinne Alexander of Purdue University reported in a news release that the Consumer Price Index indicates grocery store prices are 2.5 percent lower, on average, than they were during the same time last year.
And an annual statewide survey by Indiana Farm Bureau shows the cost of the traditional Thanksgiving dinner has decreased in Indiana for the third year in a row.
The survey showed prices for basic food items for the annual Thanksgiving Day meal for 10 people averaged $43.93, which is down $1.64 compared to last year and $3.27 from 2007.
Martin’s Supermarket assistant manager Mark Higgins believes the community appreciates saving the extra money.
“I’m sure they would rather have cheaper prices,” he said.
Indiana Farm Bureau reviewed prices of turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, a relish tray of carrots and celery, pumpkin pie with whipped cream, coffee and milk.
Their study showed a gallon of whole milk was one of the largest price decreases so far, dropping 81 cents.
In addition, prices for several other items such as rolls and stuffing also decreased.
According to Alexander, cranberry producers are expecting their second largest crop, which means lower costs for shoppers.
As for sweet potatoes, she said the U.S. Department of Agriculture reports prices are up 10 percent from a year ago, due to tighter supplies. White potato prices, however, are down 10 percent this fall, thanks to larger supplies and reduced demand.
Alexander reported the USDA is predicting whole turkeys will be sold anywhere from 81 to 85 cents per pound.
Indiana Farm Bureau believes the turkey usually determines the overall cost for the meal, since it is the largest costs on the list. Their survey showed the cost of turkey dropped to $1.26 per pound this year.
“Many grocery stores treat turkey as a loss leader,” Alexander added. “Meaning they will give you a discount on turkey, or even sell it below cost, in order to get you into the grocery store.”
She said the store than hopes to attract shoppers to purchase the additional Thanksgiving food items as well.
According to Higgins, the Logansport grocery store has been selling whole Grade A turkeys for 67 cents per pound since the beginning of the month, which is lower than what was predicted.
“I know we are selling a lot of them,” he said.
While he doesn’t know if the lower costs attracted more people to shop for Thanksgiving meal food items, Higgins has noticed an increase of shoppers in the grocery store, especially this last week.
Martin’s Supermarket usually sees even more shoppers the week of the holiday, he added.
“I think a lot of people remember previous years,” Higgins said. “Items are usually cheaper the closer to Thanksgiving than the first of month.”
Denise Massie is a staff writer at the Pharos-Tribune. She can be reached at 574-732-5151 or denise.massie@pharostribune.com.
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Thanksgiving food costs down
Shoppers can expect lowest prices in last three years.
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