It feels like everything costs more right now and Christmas dinner is no exception. The holiday meal will make a bigger dent in your budget this year, according to new research. Groceries to make the dinner are estimated to cost an average of $60.29, a report from Datasembly finds.
That’s up 16.4% from last year for the exact same groceries and it’s double the year-over-year increase reported last year at 8.2%, the retail data firm reports. To come up with the cost estimate, Datasembly looked at the year-over-year price differences for 13 unique products including stuffing mix, corn, green beans, frozen apple pie, whipped topping, cranberry sauce, bone-in spiral-cut ham, homestyle biscuits and white frozen young turkey at four major retailers - Albertsons, Kroger, Target and Walmart.
The report also shows:
- The food item with the biggest price increase from last year was biscuits, up 47.7%, according to the data.
- Butter and russet potatoes also had high price increases, with the price of butter rising 38% and russet potatoes up 32.6%.
- The frozen whole turkey actually saw the smallest increase at 6.3%. While it’s still up from last year, it’s down from November, when Datasembly reported that frozen turkey was up 11% on average.
- The bone-in spiral ham also has one of the smallest price increases at 7.7%.
Source: Fox Business