With Thanksgiving two weeks away, the time for families to shop for their holiday feast will soon be underway. Georgia Southern Economics Professor Richard McGrath offered some perspective on the current turkey prices, suggesting that shoppers hoping for a decrease might be out of luck. “For those who are saying, well, we’re waiting for prices to go back down, well, they won’t,” McGrath explained.While turkey prices are unlikely to drop, McGrath noted that Thanksgiving expenses will likely only see a slight difference from last year. “The average meal for Thanksgiving is somewhere around $70 to $90 or somewhere in that range. If people are paying a dollar more a year later, that’s not really that noticeable if they’re paying a dollar to more,” he shared.A recent study by Finance Buzz reports that the average price for a Thanksgiving turkey in Georgia is around $33. Although inflation has been a concern in recent years, McGrath pointed out that the current inflation rate, a little more than 2%, is typical. “Prices haven’t changed that much for the past year and a half. We just became hyperaware of inflation because we had a couple years of significant inflation,” McGrath said.McGrath also clarified that people often attribute inflation to specific items, such as eggs, whose prices can fluctuate due to other factors like the avian flu. “You have this long period of egg prices being high until they rebuild the stock of egg-laying chickens. But that’s really separate from inflation. That is a different issue because egg prices tend to be very volatile up and down,” McGrath explained.For those looking to save on their holiday meal, McGrath recommends comparing brands to find the best deals. “Don’t automatically walk to the brand you usually buy. Take a careful look around at the competing brands to see what else might be on a good deal, because realistically, most of those products are quite similar,” McGrath said.If you have the means to help, consider donating a frozen turkey to the WJCL 22 Turkey Drive, providing a Thanksgiving meal for a family in need. The drive will run Thursday from 4:30 a.m. until 7 p.m. at the Piggly Wiggly on Pooler Parkway.
SAVANNAH, Ga. —With Thanksgiving two weeks away, the time for families to shop for their holiday feast will soon be underway.
Georgia Southern Economics Professor Richard McGrath offered some perspective on the current turkey prices, suggesting that shoppers hoping for a decrease might be out of luck. “For those who are saying, well, we’re waiting for prices to go back down, well, they won’t,” McGrath explained.
While turkey prices are unlikely to drop, McGrath noted that Thanksgiving expenses will likely only see a slight difference from last year.
“The average meal for Thanksgiving is somewhere around $70 to $90 or somewhere in that range. If people are paying a dollar more a year later, that’s not really that noticeable if they’re paying a dollar to more,” he shared.
A recent study by Finance Buzz reports that the average price for a Thanksgiving turkey in Georgia is around $33.
Although inflation has been a concern in recent years, McGrath pointed out that the current inflation rate, a little more than 2%, is typical.
“Prices haven’t changed that much for the past year and a half. We just became hyperaware of inflation because we had a couple years of significant inflation,” McGrath said.
McGrath also clarified that people often attribute inflation to specific items, such as eggs, whose prices can fluctuate due to other factors like the avian flu.
“You have this long period of egg prices being high until they rebuild the stock of egg-laying chickens. But that’s really separate from inflation. That is a different issue because egg prices tend to be very volatile up and down,” McGrath explained.
For those looking to save on their holiday meal, McGrath recommends comparing brands to find the best deals.
“Don’t automatically walk to the brand you usually buy. Take a careful look around at the competing brands to see what else might be on a good deal, because realistically, most of those products are quite similar,” McGrath said.
If you have the means to help, consider donating a frozen turkey to the WJCL 22 Turkey Drive, providing a Thanksgiving meal for a family in need. The drive will run Thursday from 4:30 a.m. until 7 p.m. at the Piggly Wiggly on Pooler Parkway.
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