The survey finds that the classic feast for 10 will run you $58.08, down 5% from last year. However, this is still 19% higher than five years ago, the report states.
Food prices rose 7.7% between April 2022 and April 2023.
May 18, 2023
To manage their food spending, U.S. consumers are finding ways to manage higher food costs by shopping at value retailers, spending less on non-food purchases, switching to store brands, and canceling committed expenses, like subscriptions, reports Circana.
These days, a trip to the grocery store can be very expensive. According to the U.S. Bureau of Labor Statistics (BLS), the food at home index rose 6.4% over the 12 months ending in November 2021 — the most significant 12-month increase since the period ending in December 2008.