Talking turkey: Why the cost of the holiday dinner has risen so much in recent years

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The soaring food prices over the past few years will take a toll on families nationwide this week as they prepare their Thanksgiving spreads.

Food prices have been driven up in part because of supply-side factors, such as the higher cost of the fuels needed to transport grain and livestock, as well as the broader inflationary environment. Inflation has soared in recent years, and the overall consumer price index is up more than 18% from the start of 2020.

Thanksgiving is the perfect example of just how much food prices have increased alongside headline inflation.

The average price of a Thanksgiving meal for 10 people this year is $61.17, according to a report from the American Farm Bureau Federation, which compiles the cost estimate every year around the holiday using a basket of goods that includes only basic foodstuffs and excludes any special ingredients or drinks.

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