Comments due by Nov . 29, 2014
From negotiating family politics at the dinner table to managing the misery of holiday travel, the entire Thanksgiving enterprise is fraught with challenges for which we're supposed to be grateful. (And, of course, we are.)
Even the annual traditions, like the constant of the Thanksgiving dinner, is subject to the whims of the universe. On Thursday, for example, the American Farm Bureau Federation announced that the price of Thanksgiving dinner is going slightly up this year. Using an informal survey of typical Thanksgiving offerings, the group determined that "the average cost of this year’s feast for 10 is $49.41, a 37-cent increase from last year’s average of $49.04."
And while price increases seem to be a steady part of the tradition too, this year's presumptive Thanksgiving feast offers an interesting insight into how the economy is functioning. According to the U.S. Bureau of Statistics, turkey is actually 13 percent cheaper this year, despite the rising cost of most other meats. As the Columbus Dispatch noted, "at $1.58 a pound for a frozen bird at retail in September, the latest data available, turkey was 24 cents per pound cheaper than at the same time in 2013."
The greater trend though, it adds, snaps the wishbone less in favor of the consumer: In 10 years, the per-pound price of turkey has risen 50 cents.
So if falling fuel prices are dovetailing with a drop in corn and soybean prices (making turkey a bit cheaper), why is the overall cost of Thanksgiving dinner going up? The AFBF says prices for other staples like "sweet potatoes, dairy products and pumpkin pie mix" all jumped up in price.
Meanwhile, in terms of actually getting to the table, driving seems to be the way to go. As the AP reported:
Amtrak says its ticket prices have increased an average of 2 percent over last year. Same goes for flying. The average price of an airline ticket for travel this Thanksgiving is $307.52, not including an average $51 in taxes and fees, according to the Airlines Reporting Corp.
The secret may be out though. According to AAA estimates, over 46 million Americans will drive 50 miles or more to their Thanksgiving gatherings. That's 4.2 percent increase from last year and the highest number since 2007. (The Atlantic)
7 comments:
According to this article Thanksgiving this year is said to be rising. Even though turkey prices are cheaper than last year, simple staples such as sweet potatoes, dairy products, and pumpkin pie mix as well as plane tickets are all increasing. It is said that a lot more people are going to be driving this Thanksgiving. Overall it looks like Thanksgiving this year is going to be a little more expensive than last years.
Thanksgiving is a holiday that many overlook as to having its own form of economics. I think that's due to its whole purpose be about thankfulness and giving rather than Christmas' buying. However, this year the cost of Thanksgiving has increased, which is due to staple vegetables of the traditional meal as well as traveling costs increasing in price. Travel and certain foods seem to be superior goods around the holiday season, so although the prices themselves have increased consumers will still purchase them or continue to take the more expensive plane or train ticket if it means they'll be able to have an enjoyable holiday with their loved ones and family members.
Obviously Thanksgiving will be a long lasting tradition for years to come, and it is only natural for that tradition to get more expensive as the years do on. although the prices of turkeys did't increase, all the other components of Thanksgiving did, such as diary, sweet potatoes, pumpkin pie mix, and even travel. I am just thankful for the fact that my family did't have to fly this year, and we spent Thanksgiving in Westchester.
Thanksgiving is a tradition that has been around for many many years and with prices increasing in all areas, will only get more and more expensive. According to the AFBF, the price for a dinner of ten went up 37 cents from last year. though the prices of turkey did not increase, many of our other common traditional thanksgiving foods did- such as pumpkin mixes, sweet potatoes and dairy products. along with the increase we have with our food for this holiday, the prices for traveling in this season increase just as much. airfare prices increase dramatically during this season and leaves many travelers with no other option but to drive to their destinations.
This makes a lot of sense. To me thanksgiving is a time where families makes the extra effort to come all together and dine and chat with one another to make up for lost time and talk about their lives. This also makes certain prices on foods like Sweet potatoes to increase in price because its a common food to bring to the table. Also people are willing to spend a little extra money to travel for vacation which increase economic profit for modes of transportation.
Despite the decrease in price of turkey and fuel oil, the overall price of the Thanksgiving meal is increasing. I am a big fan of turkey but my favorite side dishes such as sweet potatoes, stuffing and vegetables are what is causing the price to increase. To offset the increase of price of commercial traveling and Thanksgiving dinner, more people traveled by car to the dinner table this year than the last 7 years.
Austen Verhulst said...
Honestly it makes sense that the overall price of thanksgiving has gone up. So has everything else. its no secret in todays world that for most people, money is a freaking problem, and the people who run this country are trying to fix it. And unless those people get a firm handle on the cause of the problems and the solutions of the problems the price of everything is going to continue to rise.
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