In the US and elsewhere, media and their ivory tower experts allege that statistical CPI inflation has been “low”.
But not for the Turkey which will grace the dinner tables of Americans in celebration of Thanksgiving day…
Notes the Zero Hedge: (bold original)
While shoppers will perceive the discounts on Black Friday as 'saving' them fortunes, the cost of the 2013 Thanksgiving Day dinner may be the most expensive ever. As the gorging commences, despite an entirely benign inflation in the eyes of the Federal Reserve, the prices of everything from chocolate chip cookies to ice cream are on the rise. But it is the centerpiece of the meal that is weighing on pocket-books. As Bloomberg's Michael McDonough notes, Americans are paying the most for whole frozen turkeys since the Bureau of Labor Statistics began publishing data on the series in 1980.
Happy Thanksgiving.
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