Thanksgiving could be more expensive this year. Here's how to navigate higher prices

"Americans will likely face higher prices on items for their Thanksgiving dinners this year. Turkey, typically the centerpiece of the Thanksgiving meal, will be one of the biggest sticker shocks for consumers. Wholesale prices for a turkey have jumped 40% from a year ago, according to the Department of Agriculture. Outbreaks of avian influenza, or bird flu, and increased demand have contributed to these higher prices. Those opting for beef instead of turkey should also prepare to pay more."

"David Ortega, a professor and food economist at Michigan State University, said those rollbacks won't lower prices completely, as tariffs aren't the only cause of increasing prices. "By removing the tariffs, what we're doing is we're slowing down the increase in the price of many of these goods," Ortega said. "So while we may not see prices go down for the holidays, it helps in terms of moderating the price increases that we've been accustomed to at the grocery store.""

Wholesale turkey prices rose 40% year-over-year, driven by avian influenza outbreaks and increased demand. Beef prices are nearly 15% higher compared with last year, based on Bureau of Labor Statistics data. Canned vegetables cost about 5% more due to higher packaging costs from steel and aluminum tariffs imposed earlier this year. The president announced rollbacks of tariffs on beef, coffee, tropical fruits and other commodities to address grocery price pressures. Tariff rollbacks are expected to slow price increases but not fully reverse them. Egg prices have declined and domestic wine prices are down about 1.2%. Consumers are advised to buy fresh produce, plan meals, choose private-label brands, and shop early.

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