Thanksgiving dinner will cost more this year [View All]

Source: Newark Advocate

Thanks to increasing energy costs and world food demands, Thanksgiving dinner is going to cost a little more than in 2006.

Food prices this year are up across the board. What we've seen happen in 2007 is different from previous years.

This year we're seeing food prices increase at a rate of 4.4 percent, which is well above the 10-year average of 2.6 percent. In general, food price inflation has been lower than the rest of inflation, but this year that has changed.

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Dairy prices are up 15 percent from last year, and that's fairly noticeable because a lot of people buy milk every week. Eggs are up 45 percent.

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Energy costs aren't the only factors contributing to the increase in food costs. A worldwide wheat shortage has contributed to the high cost of wheat-based foods.

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