Spectrum News: Turkey prices defy inflation trend

UC economics professor says lower prices on turkey can help drive shoppers to stores

The cost of preparing a Thanksgiving meal has gotten more expensive, although turkey actually has dropped in price, Spectrum News reported.

Erhardt, Erwin3

Erwin Erhardt

While the average cost of a Thanksgiving meal is 13% higher than a year ago, turkey prices have dropped almost 16%.

Erwin Erhardt, PhD, a professor-educator of economics in the University of Cincinnati's Carl H. Lindner College of Business, said turkey being a little cheaper can help grocery stores attract shoppers, who then spend more money on other items.

“Turkey is a good buy,” Erhardt said. “And also it's what grocery stores use to get people in to buy their Thanksgiving goods. So even if they drop the price a little bit more, it'll encourage people to come in and get the turkey and pick up some of the other goods that go with their dinner.”

See more from Spectrum News.

Featured image at top: Thanksgiving meal. Photo/Pro Church Media via Unsplash

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