While eating out is typically more costly than dining at home, going to a restaurant could be a relative bargain this Thanksgiving compared with high grocery store prices.
Restaurant prices are also elevated, but they have risen at a slower pace. The cost of food at restaurants and other vendors is up 5.8%, compared to food from grocery stores or supermarkets, which shot up nearly 10% from November 2021 to August 2022, Wells Fargo analysts noted in aThanksgiving-specific food items — including eggs, flour and fruits and vegetables — purchased at stores are even more costly, having risen 14.
By contrast, restaurants buy food inputs in bulk and typically don't need to increase consumer prices as sharply or rapidly. "If you're a family of four and you have to prep and buy commodities associated with that Thanksgiving meal, it actually may benefit you to go out to eat — it will be a similar price," Rubin said."It's considered a luxury to some, and this year there is a lot of value in eating out."
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