Why Thanksgiving turkey prices are up in 2022

Turkey prices are higher this year than in 2021. But shoppers likely won’t see a 17% increase, as some data suggests, due to widespread seasonal discounts.

Thanksgiving is fast approaching, and many Americans have been heading to grocery stores across the country to prepare for the holidays.

Senator Marsha Blackburn (R-TN) and Senator Ted Cruz (R-TX) recently declare on Twitter that Thanksgiving turkey prices are up 17% this year because of inflation.

QUESTION

Are turkey prices up 17% this year?

SOURCES

ANSWER

This needs context.

Claims that turkey prices are up 17% this year need context.

Prices for some types of poultry, including turkeys, are up nearly 17% this October from last October, data from the US Bureau of Labor Statistics (BLS) shows. But that number doesn’t take into account retailers’ seasonal turkey sales that typically take place in November each year before Thanksgiving. The price increase is much lower when those discounts are taken into account.

WHAT WE FIND

The U.S. Bureau of Labor Statistics (BLS) tracks the prices of everyday items to measure changes in the economy. In October, BLS found that prices for foods considered “other poultry,” such as turkeys, Cornish hens and geese, increased 17% between October 2021 and October 2022. Blackburn and Cruz, who tweeted on November 5 and November 14both cite this percentage in their tweets.

But the BLS data doesn’t take into account retailer discounts on turkeys that typically occur in November before Thanksgiving.

Each week, the United States Department of Agriculture (USDA) monitors turkey prices by surveying supermarkets across the country. In its report for the week ending November 16, the USDA found that grocery stores are now selling fresh whole turkeys for about $1.56 per pound – a 1% increase over the same data. from 2021. Meanwhile, frozen whole turkeys are selling for an average of $0.96 per pound — up about 8% from last year’s $0.89.

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VERIFY also reviewed a number of weekly ads from supermarkets across the country, including Aldi, Giant, Publix and Target. We’ve found that each store’s turkey sales currently range from $0.37 to $1.69 a pound for fresh and frozen turkey.

So even though turkey prices are higher than last year, most Thanksgiving shoppers won’t pay 17% more for their chicken than they did in 2021.

So why the higher price? The USDA said farmers are facing higher costs this year due to inflation. Multiple outbreaks of highly pathogenic avian influenza (HPAI or avian influenza) also have a significant impact on turkey production in 2022, driving prices up.

Despite these factors, the U.S. Department of Agriculture says there will be enough turkeys to meet Thanksgiving demand.

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https://www.king5.com/article/news/verify/money-verify/turkey-prices-2022-thanksgiving-inflation-bird-flu-fact-check/536-fcd7dbf3-ae94-4704-98fa-1cc5912f5b21 Why Thanksgiving turkey prices are up in 2022

Edmund DeMarche

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