Summary:
– Oklahoma households spend nearly 12% of income on groceries.
– Beef and coffee prices surge while turkey costs 70% more wholesale.
– Thanksgiving meal costs drop slightly despite persistent inflation .
Stubbornly high inflation continues to hit consumers hard at the grocery store. In a recent Harris Poll-Axios survey, nearly half of respondents (47%) said it is harder to afford groceries now than it was a year ago.
Grocery prices increased 2.7% over the 12 months ending in September, according to the Bureau of Labor Statistics (BLS). Beef prices rose 14.7% compared to September 2024, and coffee prices were 18.9% higher.
The impact hits harder for residents of southern and western states, including Oklahoma, a new report reveals.
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