Inflation costs: How much will it carve into your holiday plans?

Local News

SYRACUSE, N.Y. (WSYR-TV) — As we head into Thanksgiving Week the bottom line is that it’s going to be great, but it’s going to cost you more.

First, you’ll need to get there. The national average for a gallon of regular gas right now is $3.41. That’s up more than a dollar from a year ago when it was $2.12. In Syracuse, the average is $3.50.

What’s on the table will cost you more too. The Thanksgiving meal is up 14% in prices from a year ago.
Turkey alone is up 24% from a year ago. The rolls? Up 15%. Cranberries have risen by 11%. And the pumpkin pie mix is up 7%.

Even with this inflation, shoppers continue to spend. Americans have saved an estimated two trillion dollars by not dining out as much or traveling during the pandemic, and analysts say they’re ready to spend that money.

Retailers across the board, from Target to Macy’s to Bj’s Wholesale, are all raising their estimates for the number of sales they expect to gain over this holiday season.

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