Two-Thirds of Americans Say Inflation Is Affecting Thanksgiving Plans

Two-thirds of Americans say rising prices across the board will affect their Thanksgiving plans this year, a survey from The Vacationer revealed.

The survey asked respondents if high levels of inflation are affecting their Thanksgiving plans this year. The vast majority said the country’s current economic state is, in fact, affecting their plans in some way. About a quarter, 24.73 percent, attributed the issues to the high cost of food, while 16.75 attributed it to the increased travel cost “due to gas prices.” Another 25.02 percent said both the increased cost of food and gas will affect their plans. 

About one-third, however, said the high levels of inflation will not affect their holiday plans. 

According to the survey, the percentage of those who say inflation will affect their plans “represents more than 171 million people.”

Further, 39.08 percent said they plan to spend $0 on Thanksgiving this year. That figure may coincide with the results of a Personal Capital survey released last week, which found one in four Americans planning to skip the holiday altogether to save money. 

Per The Vacationer survey:

Nearly 29% of American adults say they will spend more than $500 to travel for Thanksgiving this year. This figure represents nearly 74 million adults. The 28.6% is made up of the 12.56% that say they will spend between $501 to $1,000, the 8.37% that will spend between $1,001 to $1,500, the 5.08% that will spend between $1,501 to $2,000, and the 2.59% that intend to spend more than $2,000. Last year, only 20.13% of Americans intended to spend more than $500. This means 30% more people this year intend to spend over $500 than last year. Unfortunately, Americans are seeing rising gas prices and expensive flights and understand they are going to have to pay significantly more this year to travel for Thanksgiving.

The survey was taken October 25, 2022, among 1,003 Americas and has a margin of error of +/- 3.158 percent. 

It comes as the price of common Thanksgiving staples soars in the U.S., with turkey and non-chicken poultry up 16.9 percent, pies up 18.6 percent, and butter up 26.7 percent. 

Other figures include:

• Ice cream is up 13.3 percent.
• Canned fruits, which include cranberry sauces, are up 18.7 percent.
• Fresh potatoes are up 15.6 percent.
• The index for rolls, biscuits, and muffins is up 13.6 percent.
• Salad dressing is up 19.7 percent.
• Gravy and sauce prices are up 14.6 percent.
• Overall food at home prices are up 12.4 percent.

Economic confidence also fell in October to “minus 45, the lowest since July, as Breitbart News reported. “A month earlier it rose to minus 39, the third straight month of gains. The index hit a low in June of minus 58.”