Beating inflation: Don’t let the turkey carve too much money out of your wallet

JACKSONVILLE, Fla. — Cutting the turkey this year might cut into your wallet, thanks to inflation.

Thanksgiving is quickly approaching and Action News Jax wants to help you prepare.

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For the past week, Action News Jax’s Meghan Moriarty has been giving you tips and tricks to save money. She explains the reasons behind the price hikes and the cheaper alternatives.

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Nearly every ingredient in your classic holiday feast will cost more money, this year.

“Everything is going up,” Sandra Yates said. “Everywhere.”

Yates spends about $100 to make her Thanksgiving meal, but this year, it’ll likely be more than that.

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Everything from fertilizer to the feed has gone up.

“Everything doubled this spring,” Dave Jones said. He runs the Jones Turkey Farm, and said he had to raise his prices by 50 cents a pound this year. “I should have raised it a dollar a pound, but at that point, I figured I would lose too much business and have turkeys left over.”

The increase in prices come as farmers battle one of the worst outbreaks of avian flu, which has wiped out more than 6 million turkeys.

Right now, the average price for a whole bird is $2.45 a pound. That’s 70 cents higher compared to 2021.

The price of eggs is up 43%. Butter is up nearly 27% and flour is about 25%.

The best way to save is to start with your turkey.

“Buy exactly the size turkey you need. Don’t buy a giant one and wait for leftovers,” Emily Weinstein said. She is the food and cooking editor of The New York Times.

Weinstein suggested highlighting your sides over the meat. She also recommends buying frozen over fresh.

Another tip: Wait until the last minute if you can. Some of the best prices for turkey are on the day of Thanksgiving.

Experts said you should start shopping for non-perishables now, as many grocers have already seen items leaving shelves, fast.

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“If you’ve ever considered doing a Thanksgiving potluck. This is the year to do it,” Weinstein said. “Ask your loved ones to bring dishes. Everyone will be happy to be involved.”