{"id":163595,"date":"2024-11-27T09:05:41","date_gmt":"2024-11-27T14:05:41","guid":{"rendered":"https:\/\/valorguardians.com\/blog\/?p=163595"},"modified":"2024-11-26T15:47:53","modified_gmt":"2024-11-26T20:47:53","slug":"cnbc-this-years-thanksgiving-dinner-is-historically-affordable","status":"publish","type":"post","link":"https:\/\/www.azuse.cloud\/?p=163595","title":{"rendered":"CNBC: This year&#8217;s Thanksgiving dinner is historically affordable"},"content":{"rendered":"<p><a href=\"https:\/\/www.azuse.cloud\/wp-content\/uploads\/2024\/11\/big-bird-for-ThanksGiving.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-163596 aligncenter\" src=\"https:\/\/www.azuse.cloud\/wp-content\/uploads\/2024\/11\/big-bird-for-ThanksGiving.jpg\" alt=\"\" width=\"182\" height=\"251\" \/><\/a><\/p>\n<p>Utilizing information based on a nationwide survey of grocery prices from the American Farm Bureau Federation, CNBC reported that this year&#8217;s Thanksgiving dinner will be historically affordable. They estimate that on average, it would cost $58.08 to feed 10 individuals. Since shoppers will not see this when looking at the prices at the store, CNBC argued from the &#8220;adjusted for inflation&#8221; angle.<\/p>\n<p><span style=\"color: #0000ff;\"><strong>From CNBC:<\/strong><\/span><\/p>\n<blockquote><p>The costs of this year&#8217;s holiday feast &#8212; estimated at $58.08 for a 10-person gathering, or $5.81 a head &#8212; dropped 5% since last year, the lowest level since 2021, according to a nationwide survey of grocery prices by the American Farm Bureau Federation, which represents millions of U.S. farmers. But the picture improves further when adjusted for inflation.<\/p>\n<p>&#8220;If your dollar had the same overall purchasing power as a consumer in 1984 &#8230; this would be the least expensive Thanksgiving meal in the 39-year history of the AFBF Thanksgiving survey, other than the outlier of 2020,&#8221; the authors wrote.<\/p>\n<p>For plenty of households, it doesn&#8217;t feel that way.<\/p>\n<p>A defining feature of the post-pandemic recovery, and the 2024 election, is the divergence between Americans&#8217; sour views of the economy and its underlying strength. Many shoppers understandably focus on price levels &#8212; the dollar value of the things they buy &#8212; rather than those purchases&#8217; inflation-adjusted, or &#8220;real,&#8221; costs. The latter is the true test of affordability, since it reflects an often underappreciated piece of the inflation puzzle: wage inflation.<\/p>\n<p>And indeed, while Thanksgiving food prices are up 19% since 2019, according to the AFBF, federal data shows median household wages growing by about 25% during the same period.<\/p><\/blockquote>\n<p><strong>Additional Reading:<\/strong><\/p>\n<p>Feng, J. (2024, November 24). Thanksgiving dinner is historically affordable this year. <em>CNBC<\/em>. <a href=\"https:\/\/www.cnbc.com\/2024\/11\/24\/thanksgiving-dinner-is-historically-affordable-this-year.html\">Link<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Utilizing information based on a nationwide survey of grocery prices from the American Farm Bureau Federation, &hellip; <a title=\"CNBC: This year&#8217;s Thanksgiving dinner is historically affordable\" class=\"hm-read-more\" href=\"https:\/\/www.azuse.cloud\/?p=163595\"><span class=\"screen-reader-text\">CNBC: This year&#8217;s Thanksgiving dinner is historically affordable<\/span>Read more<\/a><\/p>\n","protected":false},"author":661,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-163595","post","type-post","status-publish","format-standard","hentry","category-society"],"_links":{"self":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/163595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=163595"}],"version-history":[{"count":0,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=\/wp\/v2\/posts\/163595\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=163595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=163595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.azuse.cloud\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=163595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}