Consumers have a lot to be thankful for during the holidays including some of the lowest food prices in the world. In fact, the American Farm Bureau’s annual Market Basket Survey shows the cost of this year’s Thanksgiving meal will lower than 2019. Chief Economist John Newton says its also lowest in 10 years.
Newton says the drop in the meal price was tied to the centerpiece of the Thanksgiving feast.
In fact, the only price inflation among the items in the holiday meal was bread and associated food products.
Newton says the lower food prices are welcome with more Americans planning to cook at home this year and after a rough year with the pandemic.