Most Americans are worried about the rising cost of food this Thanksgiving.
- 86 percent say increased prices will impact their meal planning.
- This is up 20 percent from last year.
WHY IT MATTERS: Reduced spending on Thanksgiving could signal a spending drop on holiday gifts, too. This will hit U.S. businesses hard.
GOBBLING UP OUR DOLLARS:
- Tukey and non-chicken poultry are up 16.9 percent
- Pie is up by 18.6 percent
- Rolls and biscuits are up 13.6 percent
- Butter is up 26.7 percent
- Gravy is up 14.6 percent
THE IMPACT: FinanceBuzz asked Americans how the rising cost of food will impact Thanksgiving:
- 57 percent said they will look for sales at grocery stores
- 31 percent said they will use more coupons than normal
- 24 percent said they will use cheaper ingredients
- 21 percent said they will shop at cheaper grocery stores
- 20 percent said they “may cut back on food”
- 15 percent said they will ask guests to bring more food
- 15 percent said they will invite “fewer” guests
GO DEEPER: Click here to read