How much is it going to cost for Thanksgiving dinner?

How much is it going to cost for Thanksgiving dinner?

BALTIMORE -- Thanksgiving is just over a week away and most people are thinking about what's going to be on the dinner table.

Experts say that if you still have grocery shopping to do, you probably won't feel much relief at the store this year.

But there are some ways to save on your bill.

"I start early. Whatever is on sale," Baltimore resident Lillian Bowles said.

Bowles said she started shopping for Thanksgiving three months ago. She's not the only person bargain-hunting this holiday season.

 "I've had my dear friend rolling me around in all of the different stores trying to get the best price," Baltimore resident Ellie Wang said.

According to the Department of Agriculture, grocery store inflation has been slowing to 2.4% since last October.

However, you probably won't feel much better at the checkout line.

According to the Wells Fargo 2023 Thanksgiving consumer report, record-breaking price spreads between wholesale and retail prices are causing costs at the store to increase.

 "Times have changed," Bowles said. "I just wonder how people with large families have survived."

Those record-breaking price spreads are impacting some of the most popular holiday dishes. 

 According to the Wells Fargo report, ham prices are near an all-time high, up 5.2% from last year. 

 Russet potatoes are also at an all-time high - up 14% from 2022.

The cost of green beans is up 9%.

Consumers can expect to pay 60% more for canned cranberries this year, while fresh cranberries are down about 20%.

According to the Wells Fargo report, turkeys saw a 30% drop in wholesale price and consumers will pay 9% less this year. 

That Wells Fargo report has some tips for people who still have some shopping to do, which includes being conscious of sales, buy fresh fruits and vegetables, shop early and watch for falling turkey prices as we get closer to Thanksgiving. 

The report indicates that stores use turkeys to drive store traffic with 84% of whole fresh turkeys sold in November.

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