Two-thirds of Americans say inflation affects Thanksgiving plans
Two-thirds of Americans say rising prices across the board will affect their Thanksgiving plans this year, a survey by The Vacationer has found.
The survey asked respondents whether high levels of inflation were affecting their Thanksgiving plans this year. The vast majority said the current economic situation in the country was in fact affecting their plans in some way. About a quarter, 24.73%, attributed the problems to the high cost of food, while 16.75 attributed it to increased travel costs “due to gas prices”. Another 25.02% said the rising cost of food and fuel would affect their plans.
About a third, however, said high levels of inflation will not affect their holiday plans.
Percentage of those who say inflation will affect their plans, survey finds “represents more than 171 million people.”
Additionally, 39.08% said they planned to spend $0 on Thanksgiving this year. This number can coincide with the results of a personal capital survey released last week, which found that one in four Americans plan to skip the holidays altogether to save money.
According to The Vacationer survey:
Nearly 29% of American adults say they will spend more than $500 traveling for Thanksgiving this year. This figure represents nearly 74 million adults. The 28.6% are made up of 12.56% who say they spend between $501 and $1,000, 8.37% who will spend between $1,001 and $1,500, 5.08% who will spend between $1,501 and $2,000 and 2.59% who intend to spend more than $2,000. Last year, only 20.13% of Americans intended to spend more than $500. This means that 30% more people this year intend to spend more than $500 compared to last year. Unfortunately, Americans are seeing rising gas prices and expensive flights and realizing that they are going to have to pay a lot more this year to travel for Thanksgiving.
The survey was conducted on October 25, 2022 from 1,003 Americas and has a margin of error of +/- 3.158%.
It comes as the price of common Thanksgiving staples skyrockets in the United States, with turkey and non-chicken poultry up 16.9%, pies up 18.6% and butter up 26.7%.
Other figures include:
- Ice cream is up 13.3%.
- Canned fruit, which includes cranberry sauces, rose 18.7%.
- Fresh potatoes increased by 15.6%.
- The index for rolls, cookies and muffins increased by 13.6%.
- Salad dressing is up 19.7%.
- Prices for sauces and sauces increased by 14.6%.
- Overall, take-home food prices rose 12.4%.
Economic confidence too tear down in October at “minus 45, the lowest since July, as reported by Breitbart News. “A month earlier it had fallen to minus 39, the third consecutive month of gains. The index hit a low in June of minus 58.”