(KSNF/KODE) – For many families, eating out at Thanksgiving is the equivalent of overcooking the turkey or pouring broth straight out of the can. And most restaurants won’t serve your aunt’s famous broccoli rice casserole. But this year, sharing a meal at a restaurant might be the smartest thing you can do on Thanksgiving.
A new report published by Wells Fargo suggests that your favorite Thanksgiving dishes may cost you just as much at a restaurant as if you made them yourself. According to Bureau of Labor Statistics data for the Consumer Price Index (CPI) from November 2021, the cost of food at your average restaurant rose at a slower rate (5.79%) than at your local grocery store (9.81%). Narrowing this gap means that some of the dishes at your favorite restaurant are closer in price to the food you buy to eat at home.
“This narrowing of the gap means that some of the Thanksgiving dishes at your favorite restaurant are priced closer to your food at home, which could save you time and energy…in other words, you could spend roughly the same amount on a dish at a restaurant, as the study says.
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For some staples, the Wells Fargo report indicated a 32.5% change in egg prices, and a 25% change in butter. Fruits and vegetables, up 7.3%, are the least expensive in the Thanksgiving basket. Turkey, the star of the Thanksgiving meal, is one of the biggest expense items, and its price is expected to be 23% higher than this time last year. One reason for the high cost of turkey is the recent bird flu problems affecting the poultry industry.
“Eating out can be expensive, but it could be a better value this year than one might expect. Higher commodity costs affect grocery stores more directly than restaurants. The price of a meal in a restaurant includes factors such as overhead and labor, but commodity components are a proportion less than the restaurant’s total costs,” states the Wells Fargo research study.
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