Biden Economy Politics

Economic Nightmare: Thanksgiving Costs Soar, Wallets Suffer!

This Thanksgiving, as families prepare to gather, it appears the costs of traditional feast items might require more than the usual amount of “green stuff,” but not the kind found in greens and lettuce. Reports from Craig Bannister at Media Research Center’s CNSNews on November 15 highlighted a concerning trend: the prices of essential Thanksgiving foods are rising at a rate higher than overall inflation. For those who found recent grocery trips hefty on the wallet, stocking up for Turkey Day might bring a more sobering sticker shock. However, the individual seemingly unaffected by these increased expenses is President Joe Biden himself.

Despite claims by the Biden administration and aligned media outlets suggesting a slowdown in inflation rates, the reality differs. Although there might be a purported decrease in the inflation rate for this month or year, as estimated by the U.S. Inflation Calculator, incorporating data from the U.S. Department of Labor (DOL) Bureau of Labor Statistics (BLS) Consumer Price Index (CPI-U), the overall costs are still escalating, albeit at a slightly less rapid pace. Yet, this moderation does not seem to extend to the costs associated with Thanksgiving fare this year.

According to Bannister’s analysis of BLS data reported by CNSNews, the Consumer Price Index for all items before seasonal adjustments has increased by 3.2% compared to the previous year. However, specific Thanksgiving meal components have experienced even more pronounced hikes:

Uncooked Poultry, notably turkey: up by 7.2%
Sauces and gravies: up by 7.5%
Bread: experiencing a surge of 6.3%
Crackers, bread, and cracker products: increased by 6.0%
The upward price trend extends to various sweet treats typically enjoyed during Thanksgiving:

Cookies: surged by 5.1%
Fresh cakes and cupcakes: up by 4.4%
Fresh sweet rolls, coffee cakes, doughnuts: increased by 5.1%
Sugar and sugar substitutes: experienced an 8.8% rise
Candy and chewing gum: escalated by 5.9%
Frozen and refrigerated bakery products, pies, tarts, turnovers: recorded a 2.7% increase

Additionally, opting to dine out for Thanksgiving comes with a cost hike of 5.4% compared to the previous year, exceeding the 3.2% increase in the CPI for all items. This financial strain is set to impact celebratory spending during the holiday season, a time when companies typically witness increased sales and revenues.

For many Americans grappling with financial constraints, the affordability of presents and festive meals could seem like an unattainable luxury this year. Notably, the plight faced by regular households contrasts with situations where alternative income sources, akin to the alleged foreign money laundering associated with the Biden family, are non-existent.

It’s disheartening that a holiday designed for gratitude and acknowledgment of the nation’s abundance, freedom, and prosperity could be overshadowed by rising costs propelled by what is criticized as un-American policies under Biden’s administration. As the holiday approaches, the hope persists that the subsequent year’s 2024 presidential election will bring about changes to address these economic challenges.

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