CNN’s Christine Romans on Tuesday explored this year’s record-high Thanksgiving prices, which will see the cost of goods including turkey rise by as much as 25 percent compared to 2020.

The price of turkey is expected to hit $1.36 per pound — or $22 for a 16-pound turkey. Potato prices have experienced a year-over-year increase of 3.5 percent. Other goods related to Thanksgiving that have seen rising prices include biscuits (4 percent); mixed vegetables (3.8 percent); and apple pie (7.8 percent). Gasoline, which is around 40 percent more expensive than at the same time in 2020, accounts for some of the rise in costs. Labor shortages and supply-chain disruptions are also factors.

Romans said that while there is technically enough food to go around, not all Americans will be able to afford it.

“If you wait, you may not get the size bird you want,” Romans said. “Heritage birds may not be available near you, or they may not be in your budget. That means get shopping. The National Grocers’ Association says there is plenty of food in the supply chain, but consumers should secure those must-haves in a timely fashion to have the favorites on the holiday table.”

Thanksgiving this year “could be the most expensive meal in the history of the holiday,” The New York Times noted last week. It’s a stark contrast with 2020, which Farm Bureau estimate suggested was the cheapest since 2010.

“Late September turkey prices this year are running nearly 25 percent more than the prior year, and nearly 50 percent higher than a prior five-year average,” Wells Fargo analysts said in a report last month. “In other words, a whole turkey for this holiday season is going to cost you nearly double what it did just a couple of years ago.”

Watch above via CNN.

The post CNN Sounds Inflation Alarm By Charting Thanksgiving Dinner Increases: 20 Lb. Bird Will Cost Almost $30, Apple Pies Up 7.8% first appeared on Mediaite.

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