Consumers will notice a price increase this year when shopping for Thanksgiving dinner essentials. The LSU AgCenter conducted a study that found the market basket for a family of 10 people increased by 14 percent since 2007.The study concluded that the 2008 Thanksgiving market basket in Baton Rouge will average $41.30 for 10 people, which is a $4.99 increase from the 2007 average of $36.31. “This study, based on an American Farm Bureau Federation Survey, looked at the cost of turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, pumpkin pie with whipped cream and beverages like coffee and milk,” said Jeanette Tucker, family economics specialist for the School of Human Ecology. The study was conducted at three grocery stores in Baton Rouge, which included a local grocery store, a national chain store and a “big box” store, Tucker said. After information was gathered, the prices were averaged.”We looked at the lowest prices that were not on special or on sale,” Tucker said.The cost of a 16-pound turkey increased 99 cents per pound, a 14 cent-per-pound increase and a total increase of $2.29 per turkey in Baton Rouge, she said. Nationally, a turkey this size increased only $1.19 per pound. “This is the largest contributor to the overall increase in the cost of the 2008 Thanksgiving dinner,” she said. Inflation, increased labor cost and high energy prices are just some of the factors causing the price increases, but items including sweet potatoes, frozen green peas and whipping cream actually decreased in price, she said. “I was surprised to see the price of sweet potatoes decrease, especially since many of our sweet potato farms flooded after hurricanes Gustav and Ike,” Tucker said. Three pounds of sweet potatoes cost about $2.76 — 39 cents cheaper than last Thanksgiving.”It is interesting to see how prices change,” said Erin Guillory, biochemistry senior and student worker who helped gather information for the study.The LSU AgCenter has been conducting the study for four years, and each year the average market basket increases, Tucker said. “The price increase is not really a surprise, but more people might be willing to help out charities because of it,” Guillory said.One local shopper said the price increase isn’t something he takes into consideration when shopping for the holiday. “The price increase would not affect what I buy for my family,” said Ronnie Hedrick, wine specialist for Matherne’s Supermarket. The Thanksgiving menu is classic, and less expensive brands are available, Hedrick said. Though the price of Thanksgiving dinner increased, Louisianians still pay less than other parts of the country because prices are cheaper in the South, and the national market is still reasonable, Tucker said.”On average, American consumers have enjoyed stable food costs over the years, particularly when adjusted for inflation,” she said. Consumers can enjoy a wholesome, home-cooked turkey dinner for just more than $4 per person, which is less than a typical fast food meal, Tucker said. “That’s a real bargain in these challenging economic times.”—-Contact Aimee Effler at [email protected]
Cost of holiday dinner in Baton Rouge increases 14 percent
November 25, 2008