Food and Fuel Prices Affordable This Thanksgiving

Food price increases have been about average, while fuel prices are lower.

This Thanksgiving, U.S. consumers can be thankful for the prices of food and fuel.

Food and beverage prices are up 2.6% going into the holiday, about an average increase, while fuel prices - both gasoline and natural gas - are much lower.

Milk and butter are much cheaper this year than they were even two years ago and an increase in the cattle herd nationwide has beef prices moderating. That's good news for consumers even if it changes income prospects for farmers. And while there has been hot weather that has damaged fruit and vegetable crops, it was a quiet year for hurricanes, which has helped with fruit and vegetable prices.

Turkey supplies are tight across the country, Alexander says, although turkey production is a little ahead of last year. Consumers have more free-range and organic turkey options this year as well.

Meanwhile, energy prices are considerably lower than last year's for the travel-heavy Thanksgiving weekend.

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