Meat eaters will have less to be thankful about this holiday, less money that is, as the price of turkey has gone up 30 percent over the last year. That pumpkin pie with whipped cream isn’t going to be any cheaper either, as grain and dairy based items are also costing more.
An article by CBS Moneywatch.com is warning that food inflation is back, and even has some advice for consumers: GO VEGAN!
A variety of factors, mostly having to do with bad weather have affected crops for all types of grains and has pushed some food commodity prices up 40 percent. When grain prices rise, feed costs for livestock also rise, and that cost is passed on to the consumer.
The 2011 food price forecast from the USDA has predicted food costs rising 3 percent higher and meat and dairy prices rising 5 percent or more.
Here’s a rundown on how much more money our omnivorous friends will spending at the grocery store this year:
· Beef and veal: The USDA expects prices for beef and veal to increase 3.5 percent this year, and rise another 3.5 percent in 2011.
· Pork: An expected 4.5 percent to 5.5 percent rise in pork prices in 2010 will be followed by another 3 percent to 4 percent rise in 2011.
· Dairy Products (other than eggs): After rising 1.5 percent to 2.5 percent in 2010, the USDA is forecasting a 4.5 percent to 5.5 price increase on dairy products in 2011
While the price of meat, dairy and eggs will continue to rise, vegetable prices have remained fairly stable here in the U.S.
So if you’re having a veggie Thanksgiving this year, not only are you saving some turkeys, but your saving some serious dough as well. That’s a lot to be thankful for!
Photo credit: cc: flickr.com/photos/stuartpilbrow