How to Save Money on Thanksgiving

Turkey prices, on average, are up 70 cents per pound from a year ago, and inflation isn’t the only reason.

HOUSTON — Thanksgiving is 10 days away, but some people have already started buying the turkey and all the trimmings. With grocery store prices up nearly 12.5%, according to the Bureau of Labor Statisticsfamilies should be prepared to offer more than just a second helping.

Turkey prices, on average, are up 70 cents per pound from a year ago. David Anderson, Ph.D., a Texas A&M The Agrilife Extension economist and professor in the Department of Agricultural Economics, said inflation is not the only reason.

“Well, the big thing is, we don’t have as many this year as we did last year,” Anderson said.

RELATED: Why Are Turkeys Hard To Find This Year?

This year, bird flu has killed more than 6 million turkeys in the United States.

Anderson said higher feed costs — meaning it costs more to raise turkeys — also contribute to higher prices for consumers.

The Bureau of Labor Statistics said the average price for a frozen bird was $2.45 a pound this year, up 17% from last year.

RELATED: Rising Inflation Impacts Senior Citizens This Holiday Season

Inflation is also a factor and will also drive up the price of other Thanksgiving favorites. Eggs cost 43% more, butter is up nearly 27% and flour up 25%.

Here is some tips to prevent your money from being gobbled up:

  1. Go frozen. Turkeys, frozen fruits and vegetables are generally less expensive.
  2. Compare the prices. Aldi, for example, said its non-perishable items will be priced the same as in 2019.
  3. Look for offers. Stores usually offer promotions on turkeys before the holidays.
  4. Make it a vacation-sharing.