California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute

This year’s Thanksgiving dinner -- turkey, stuffing, cranberries, pumpkin pie
and all the basic trimmings – will cost Americans thirteen percent more over
last year, according to figures compiled by the American Farm Bureau Federation,
AFBF.

The average, nationwide, price has increased about 13 percent in price this
year, according to the numbers added up by the AFBF, which has been figuring
the dinners’ costs for 26 years. The average cost of this year’s feast for 10
is $49.20, nearly a six dollar increase from last year average.

The AFBF survey shopping list includes turkey, bread stuffing, sweet potatoes,
rolls with butter, peas, cranberries, a relish tray of carrots and celery,
pumpkin pie with whipped cream, and beverages of coffee and milk, all in
quantities sufficient to serve a family of 10.

The big ticket item – a 16-pound turkey – came in at $21.57 this year. That was
roughly $1.35 per pound, an increase of about 25 cents per pound, or a total of
$3.91 per whole turkey, compared to 2010.  The whole bird was the biggest
contributor to the final total, showing the largest price increase compared to
last year. “Turkey prices are higher this year primarily due to strong consumer
demand both here in the U.S. and globally,” said John Anderson, an AFBF senior
economist.

A gallon of whole milk increased in price by 42 cents per gallon, to $3.66. Other
items that showed a price increase from last year were: a 30-ounce can of pumpkin
pie mix, $3.03, up 41 cents; two nine-inch pie shells, $2.52, up 6 cents; a ˝
pint of whipping cream, $1.96, up 26 cents; one pound of green peas, $1.68, up
24 cents; a 14-ounce package of cubed bread stuffing, $2.88, up 24 cents; a dozen
brown-n-serve rolls, $2.30, up 18 cents; three pounds of sweet potatoes, $3.26,
up 7 cents; and fresh cranberries, $2.48, up 7 cents. A one-pound relish tray of
carrots and celery declined by a penny to 76 cents, while a combined group of
miscellaneous items, including coffee and ingredients necessary to prepare the
meal (onions, eggs, sugar, flour, evaporated milk and butter) decreased in price,
to $3.10.

On behalf of the California Business Minute,  Happy Thanksgiving to one and all.

I am Tim Johnson and this has been the California Business Minute.