(CNN) – Inflation-stricken consumers can finally get some relief when shopping for this year’s Thanksgiving meal.
Overall, grocery inflation has slowed over the past year, and some Thanksgiving table centerpieces will be slightly cheaper.
Thanksgiving shoppers will experience price increases and decreases this year, starting with the centerpiece of the meal, the turkey.
After a few years of price fluctuations, Wells Fargo says fresh turkey prices are largely unchanged this year compared to last year, with name brand turkey prices down 2% from 2023.
Michael Swanson, Wells Fargo’s chief agricultural economist, says conditions for turkey farmers have improved as the impact of bird flu has subsided.
“They have largely gotten through it, but the good news is that feed prices are way down. We’ve had some really good crops of corn and soybean meal in this country so they can feed the birds for less,” Swanson said.
Filling, however, could be a higher-priced sell, with name brands up 9% and store brands up 3%, with Wells Fargo citing lagging labor and transportation costs.
“It’s one of those things where we’re still seeing a little bit of inflation,” Swanson said.
Cranberries had a larger harvest this year, causing supply to increase and prices of well-known brands to fall.
“According to the USDA, we’re seeing about 2% more cranberries produced in the United States this year, which always helps. So we’re seeing brand prices drop in percentage terms,” Swanson said.
Recognizing consumers’ post-pandemic inflation fatigue, major retailers like Aldi, Sam’s Club and Target are all offering meal deals for gatherings of four to 10 people.
A Butterball survey shows that 98% of consumers expect inflation to impact their vacation plans, up from 79% in 2023.
Yet more than half of those surveyed had no plans to make changes to save money.
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