Thanksgiving is two weeks away and the biggest meal of the year for many. Food prices are the highest they’ve been in decades, and prices for almost everything have risen at a rapid rate.
The price increase has hit virtually all grocery items, but some have risen more than others. The latest reports showed the Consumer Price Index has been on the rise for most of 2021, and it rose another 0.9% in October. That made the total increase in 2021 6.2%, the highest increase for the Consumer Price Index since 1990.
Some food items that increased the most included meats. The U.S. Bureau of Labor Statistics reported meat, fish, poultry and egg prices were up 10.5% in September. One of the meat prices on the rise is the Thanksgiving “centerpiece,” turkey. The USDA’s turkeys are now 25¢ more expensive per pound on average compare to last year. The national average price in 2020 was $1.15 – $1.41 per pound.
Gas prices have also increased over the past month. According to AAA, the average price of gas was $3.27, and it is now $3.42 per gallon, a 15¢ jump. In Iowa, a gallon of gas cost $3.05 last month and increased to $3.20. In Illinois, the average prices of gas rose from $3.51 per gallon to $3.59, an 8¢ increase.