Inflation Causes Nearly 1 In 4 Americans To Skip Thanksgiving

Recent polling shows that one in four Americans plan to skip Thanksgiving this year to save money due to rising costs, which coincides with another poll showing that 40% of Americans plan to spend $0 on the holiday this year.

A Personal Capital poll released last week found that one in four Americans plans to skip Thanksgiving, while one in five “doubted they would have enough money to cover the costs of Thanksgiving this year.”

Another poll showed similar results, revealing that two-thirds of Americans have said that rising prices will affect their plans for the Thanksgiving holiday this year.

According to the survey from The Vacationer, which asked respondents about the effects of high inflation levels on their Thanksgiving plans, the vast majority of Americans have had to make some changes because of the price of gas or food.

Roughly one-quarter of respondents, 24.73%, attributed the issues to the rising cost of food, while 16.75% of respondents attributed their issues to the increased travel cost “due to gas prices.” An additional 25.02% cited both the increased cost of food and gas as major issues that will affect their Thanksgiving plans.

The poll also revealed that 39.08% of respondents plan to spend $0 on Thanksgiving this year.

The survey further states: “Nearly 29% of American adults say they will spend more than $500 to travel for Thanksgiving this year. This figure represents nearly 74 million adults. The 28.6% is made up of the 12.56% that say they will spend between $501 to $1,000, the 8.37% that will spend between $1,001 to $1,500, the 5.08% that will spend between $1,501 to $2,000, and the 2.59% that intend to spend more than $2,000.”

However, another one-third of respondents stated that high inflation would not have any effect on their plans for the holiday.

The survey notes that the percentage of respondents who say inflation will affect their plans “represents more than 171 million people.”

This news comes as prices of common Thanksgiving foods have skyrocketed. The cost of turkey and non-chicken poultry has risen 16.9%, while the price of pies is up 18.6% and the cost of butter has soared 26.7%.