If you are like everyone else you have noticed that you have been spending way more on your groceries...
Today’s post is by Troy Lowe; Vice President of Development at SafeSourcing.
If you are like everyone else, you have noticed that you have been spending way more on your groceries now than ever before. Now with the holidays coming you might be wondering how much more it will cost to buy and prepare your holiday dinners. According to researchers, grocery prices are approximately 12 percent higher than they were this time last year. Prices for the traditionally bought items for the holidays like turkey, butter, eggs, and bread are up even more than 12 percent. The price of turkey is about 17 percent higher, and it is forecasted that it could go as high as 23 percent. Some reasons for the rise in cost for the turkey is due to inflation and the avian flu which has reduced the supply of the staple holiday bird. Other ingredients that are used in the holiday preparation such as eggs are up about 40 percent, flour is up about 25 percent and butter is up about 34 percent. Some analysts are even suggesting that it may be cheaper to dine out rather than buying the groceries and preparing the meals for friends and family at home. This is because the cost of dining out has risen about 8.6 percent over the last year compared to the 12 percent rise in the cost of eating at home. Regardless of the price increases nearly 87 percent of people surveyed said that they will be preparing their usual meals this holiday season. Below is a list of other items and approximately how much more they may cost this holiday season.
- Ham 9%
- Canned Fruits 18%
- Canned Vegetables 18%
- Potatoes 15%
- Fresh Rolls 14%
- Juices 13%
- Seasonings 10%
- Flour 24%
- Sugar 15%
- Sauces and Gravies 15%
Interested in learning how SafeSourcing can help your company save money during these and other shortages? If you would like more information on how SafeSourcing can help you, please contact a SafeSourcing Customer Service representative. We have an entire team ready to as
