(KSNF/KODE) — For many families, dining out on Thanksgiving equates to overcooking the turkey or pouring gravy right out of the can. And, most restaurants don’t serve your aunt’s famous broccoli rice casserole. But this year, sharing a meal out might be the smartest thing to do for Thanksgiving.
A new report from Wells Fargo suggests that your favorite Thanksgiving dishes could cost you about the same at a restaurant as if you made them yourself. According to November 2021 Bureau of Labor Statistics Consumer Price Index (CPI) data, the cost of food at your average restaurant has increased at a slower rate (5.79%) than at your local grocery store (9.81%). The narrowing of this gap means that the price of some dishes from your favorite restaurant is closer to the price of the food you buy to eat at home.
“This narrowing of the gap means that the price of certain Thanksgiving dishes at your favorite restaurant is closer to that of your food at home, which could save you time and energy … In other terms, you could spend about the same on a dish in a restaurant as you would prepare it at home,” the study says.
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For some food staples, the Wells Fargo report noted a 32.5% change in the price of eggs, a 25% change for butter. Fruits and vegetables, up 7.3%, had the lowest cost increase in the Thanksgiving basket. The turkey, the star of the Thanksgiving meal, is one of the biggest expense items, expected to be 23% higher than the same time last year. One of the reasons for the rising cost of turkey is the recent bird flu issues affecting the poultry industry.
“Dining out can be pricey, but it may be better value this year than you might expect. Rising commodity prices are having a more direct impact on grocery stores than restaurants. Price cost of a meal in a restaurant includes factors such as overhead and labor, but basic ingredients make up a smaller percentage of a restaurant’s total costs,” says the Wells research study. Fargo.
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