Food prices are building on last year's estimated 6.3 percent rise in food costs according to the American Farm Bureau Federation. According to AFBF survey the average cost of this year's Thanksgiving feast for ten family members and friends will cost abut $49.48, a 28-cent increase from last year's average of $49.20.
Of all items surveyed, the Thanksgiving turkey was the menu item with the biggest price increase. An average turkey this year costs an average of $1.39 a pound. That's about four cents a pound more than last year.
According to the survey, the only other food item that increased in cost this year was rolls - the kind you brown and serve. Rolls are up about three cents from 2011.
The good news? These cost hikes are offset slightly by lower prices for whipping cream, bread stuffing, sweet potatoes, fresh cranberries, green peas and pumpkin pie filling, which all fell a few cents this year.
Last minute shoppers may get the best prices if they don't mind waiting and fighting the crowds. "They're waiting to see what prices are gonna do, what ads are gonna hit and they're picking up that last minute deal to make the most for what they can get," said Reams produce manager, Brandon Lovell.
Even though some food prices are up - the cost of cooking at home is down this year due to a dip in energy prices since last fall.