Price of turkeys is up this year, but here's how you can save on that big holiday dinner

The cost of frozen turkeys is up 32% compared to last year, and the rest of your meal will also cost more.

ByCarlos Granda via KABC logo
Saturday, October 22, 2022
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It's almost that time when the turkey is in the oven and family is coming over to celebrate the holidays. However, this year, that turkey is going to eat up more of your money.

LOS ANGELES -- It's almost that time when the turkey is in the oven and family is coming over to celebrate the holidays. However, this year, that turkey is going to eat up more of your money.

The American Farm Bureau reports turkey prices could hit record highs this holiday season.

The turkeys stocked at Grocery Outlet Bargain Market in Chatsworth are already moving fast.

"People are buying early," manager Christopher Herrera. "We just had to replenish our turkeys and we're mid-October. I don't really see that. Typically, November hits and that's when they start buying, but people are buying early."

Here's what's going to cost you more.

The cost of frozen turkeys is up 32% compared to last year, and the rest of your meal will also cost more. Butter and eggs up more than 30% while potatoes, sugar and bakery products are up 15% to 17%.

"I'm stocking up on things because things, really, every day, it's a different price," said shopper Matilda Verdin.

Other shoppers agree that shopping early is the way to go.

"Yes, I'll shop earlier," said Samantha Valdez. "Honestly, it'll be shopping earlier and kind of seeing where the best deals are is what we will be doing this year."

Financial experts say people are comparing prices and sometimes, choosing to buy in big bulk stores.

"In terms of food and groceries, I think Costco is still booming, and then other stores will be suffering," said Chris Tang, a professor of business at UCLA.

However, some customers are buying a little bit less per order, but grocery store managers are seeing a lot more customers coming in looking for low prices.

"I've had a husband and wife, literally, I don't want to say where the husband was, but he was at another store and they're on a cell phone comparing pricing," said Herrera.

Plus, after Thanksgiving come the big shopping days before Christmas.

This year, furniture, clothing and toys will be more expensive. The good news, however, is you will find lower prices on electronics such as computers, smart phones and TVs. In addition, there should be enough items on the shelves, too.

Tang believes with money tight, the best deals will be before Thanksgiving.

"In the past, people would wait until Black Friday or Cyber Monday to shop, but this year, consumers know that a lot of stores already have a lot of inventory," he said. "A lot of retailers would like you to shop early and retailers want to get the money first before they run out of money."

Everyone shopper ABC7 spoke with says they will be careful with their spending and will most certainly be on the lookout for the best deals.