Christmas Dinner Prices Expected to Rise 7% in 2023
Sourse: The DairyNews
A data analysis and forecast by Category Partners, using supermarket sales data from NielsenIQ, predicts that the cost of purchasing Christmas dinner at a supermarket in 2023 will be approximately 7% higher than in 2022.
The forecast, based on historical price changes and supermarket data from over 35,000 stores in the United States, indicates that a basic Christmas dinner for a family of four will cost around $50.56, compared to $47.25 in 2022. Although this reflects slower price inflation, prices remain 18.5% higher than Christmas 2021. The data suggests that overall supermarket prices have increased by 6.6% this year, with variations in price increases across departments. Seafood, produce, and meat have experienced slower inflation, while grocery and bakery prices show higher than average inflation.
Tom Barnes, CEO of Category Partners, advises consumers to navigate food inflation by being selective in their Christmas meal plans, as prices vary by item.
"Price increases vary dramatically by item and consumers can reduce holiday food costs by being flexible. For example, the average price per pound for beef steak is $9.43 per pound, up 6.8% compared to last year. Comparatively, the price for beef brisket is $4.52, down -1.0% from last year. A consumer could also opt for ham which on average sells for $2.42 per pound or Turkey at $2.96 per pound.
Tom Barnes, CEO of Category Partners, advises consumers to navigate food inflation by being selective in their Christmas meal plans, as prices vary by item.
"Price increases vary dramatically by item and consumers can reduce holiday food costs by being flexible. For example, the average price per pound for beef steak is $9.43 per pound, up 6.8% compared to last year. Comparatively, the price for beef brisket is $4.52, down -1.0% from last year. A consumer could also opt for ham which on average sells for $2.42 per pound or Turkey at $2.96 per pound.
