Morning Wire Inflation Hits Thanksgiving & Leadership Battle in Congress | 11.19.22
Nov 19, 2022
Thanksgiving expenses are soaring this year, leading many to consider dining out as a cheaper option. Grocery prices have surged nearly 10%, while restaurants have seen a smaller 5.8% increase. Meanwhile, Nancy Pelosi announces her departure from House Democratic leadership, setting the stage for new political dynamics. Additionally, Tennessee moves forward with controversial legislation targeting drag queen performances, sparking debate around minors' rights. Amidst these shifts, the broader impact of inflation continues to challenge consumers this holiday season.
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Thanksgiving Dinner Costs
- Dining out might be cheaper than cooking at home this Thanksgiving due to high grocery inflation.
- Restaurant food prices haven't risen as much as grocery prices, according to Wells Fargo.
Restaurant vs. Grocery Inflation
- Restaurants buy ingredients in bulk, getting better deals and avoiding price increases.
- Grocery stores are directly tied to commodity prices, so limited supply increases costs.
Store Thanksgiving Deals
- Walmart will match last year's prices on several Thanksgiving staples and offer turkeys below the national average cost.
- Aldi will offer select holiday foods at 2019 prices to help consumers.