美国国家公共电台 NPR--Rising prices are on the menu for Thanksgiving, with inflation currently at 7.7%

Rising prices are on the menu for Thanksgiving, with inflation currently at 7.7%

Transcript¹

As Americans prepare to gather for Thanksgiving, the high cost of both turkey and travel is grating on their sense of gratitude². At many family get-togethers this month, inflation will be on the menu.

Wholesale³ turkey prices have jumped 23% from a year ago, gobbling up a big chunk⁴ of the holiday budget. Potatoes and cranberries⁵ are more expensive as well.

"We haven't caught a break yet," says Michael Swanson, lead agricultural economist⁶ at Wells Fargo.

High energy costs, labor⁷ shortages, challenging weather conditions and avian flu have combined to push the cost of a Norman Rockwell Thanksgiving through the roof, he's found.

Grocery prices in October were 12.4% higher than a year ago, according to a report from the Labor Department released on Thursday. That outstrips⁸ the overall inflation rate of 7.7%.

Polls showed inflation was a top concern for voters heading into this week's midterm elections.

Swanson says that while some families might try to cut their food bill by shopping at discount supermarkets or switching to less-expensive store brands, he doubts many will scrimp on the big holiday meal.

"People will eat what they want to eat on Thanksgiving," he says, and make adjustments elsewhere in their budgets.

Likewise, millions of people are paying a premium⁹ to see distant family members this year. Airfares declined slightly in October from the previous month, but are still nearly 43% higher than they were a year ago. Nevertheless, planes are still packed.

"Travelers are resilient," says Haley Berg, lead economist for the travel booking app Hopper. "Thanksgiving and Christmas travel to see family is considered essential by many, and something they won't compromise on, even when there are higher prices."

For some families, this holiday season might be the first opportunity for a reunion since the beginning of the pandemic.

"Keep in mind that in November and December of last year, we had the delta¹⁰ and omicron waves of COVID, which caused mass cancellations and many travelers to change their plans at the last minute," Berg says.

Travelers who need to rent a car may find some savings¹¹. Rental¹² prices are 3.5% lower than they were a year ago, when rental car companies were still struggling to rebuild their fleets.

"There's been relief on the supply side," Berg says. "Car rental companies [have been] bulking up the number of cars they have available."

Looking toward a post-holiday debt hangover

With prices climbing faster than incomes on average, some people are digging into savings to help cover expenses. Others are relying on credit cards, even though it's getting more expensive to carry a balance.

The average interest rate on credit cards now tops 19%, according to Bankrate — up from 16.3% at the beginning of the year.

"It's really all about the Fed," says Ted¹³ Rossman, senior industry analyst¹⁴ at Bankrate. He notes that borrowing costs on credit cards have risen steadily¹⁵ as the Federal Reserve has raised interest rates at the fastest pace in decades.

Since March, the central bank has raised its benchmark rate by 3.75 percentage points. Rates are likely to go even higher, as the Fed tries to tamp¹⁶ down demand and bring inflation under control.

"The most important point for consumers is: your [credit card interest] rate is way up," Rossman says. "It's probably going to go up more. So it's more important than ever to pay down this debt."

In general, Americans are not following that advice. The outstanding balance on credit cards and other forms of revolving¹⁷ debt rose nearly 13% in the summer and early fall, according to the Federal Reserve.

"Despite all the worries, people are spending aggressively," Rossman says. "I think the holiday season factors into this as well."

He notes that so far, delinquencies and defaults on credit card debt are well below historical levels. But Rossman thinks consumers' willingness to keep paying higher prices may be reaching its limit.

"I think there's going to be a lot of post-holiday debt hangovers," he says. "A lot of sticker shock in January, unfortunately."

1 transcript   

n.抄本，誊本，副本，肄业证书

参考例句：

• A transcript of the tapes was presented as evidence in court.一份录音带的文字本作为证据被呈交法庭。
• They wouldn't let me have a transcript of the interview.他们拒绝给我一份采访的文字整理稿。

2 gratitude   

adj.感激，感谢

参考例句：

• I have expressed the depth of my gratitude to him.我向他表示了深切的谢意。
• She could not help her tears of gratitude rolling down her face.她感激的泪珠禁不住沿着面颊流了下来。

3 wholesale   

n.批发；adv.以批发方式；vt.批发，成批出售

参考例句：

• The retail dealer buys at wholesale and sells at retail.零售商批发购进货物，以零售价卖出。
• Such shoes usually wholesale for much less.这种鞋批发出售通常要便宜得多。

4 chunk   

n.厚片，大块，相当大的部分（数量）

参考例句：

• They had to be careful of floating chunks of ice.他们必须当心大块浮冰。
• The company owns a chunk of farmland near Gatwick Airport.该公司拥有盖特威克机场周边的大片农田。

5 cranberries   

n.越橘( cranberry的名词复数 )

参考例句：

• The tart flavour of the cranberries adds piquancy. 越橘的酸味很可口。
• Look at the fresh cranberries. 你看这些新鲜的蔓越橘。 来自无师自通 校园英语会话

6 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

7 labor   

n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦

参考例句：

• We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
• He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。

8 outstrips   

v.做得比…更好，（在赛跑等中）超过( outstrip的第三人称单数 )

参考例句：

• Technology daily outstrips the ability of our institutions to cope with its fruits. 技术发展的速度超过了我们的制度所能应付其成果的程度。 来自辞典例句
• The significance of the foreign exchange market outstrips its impressive size. 外汇市场的意义超出了它给人的印象尺度。 来自互联网

9 premium   

n.加付款；赠品；adj.高级的；售价高的

参考例句：

• You have to pay a premium for express delivery.寄快递你得付额外费用。
• Fresh water was at a premium after the reservoir was contaminated.在水库被污染之后，清水便因稀而贵了。

10 delta   

n.（流的）角洲

参考例句：

• He has been to the delta of the Nile.他曾去过尼罗河三角洲。
• The Nile divides at its mouth and forms a delta.尼罗河在河口分岔，形成了一个三角洲。

11 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

12 rental   

n.租赁，出租，出租业

参考例句：

• The yearly rental of her house is 2400 yuan.她这房子年租金是2400元。
• We can organise car rental from Chicago O'Hare Airport.我们可以安排提供从芝加哥奥黑尔机场出发的租车服务。

13 ted   

vt.翻晒，撒，撒开

参考例句：

• The invaders gut ted the village.侵略者把村中财物洗劫一空。
• She often teds the corn when it's sunny.天好的时候她就翻晒玉米。

14 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

15 steadily   

adv.稳定地；不变地；持续地

参考例句：

• The scope of man's use of natural resources will steadily grow.人类利用自然资源的广度将日益扩大。
• Our educational reform was steadily led onto the correct path.我们的教学改革慢慢上轨道了。

16 tamp   

v.捣实，砸实

参考例句：

• Then I tamp down the soil with the back of a rake.然后我用耙子的背将土壤拍实。
• Philpott tamped a wad of tobacco into his pipe.菲尔波特往烟斗里塞了一卷碎烟叶。

17 revolving   

adj.旋转的，轮转式的；循环的v.（使）旋转( revolve的现在分词 )；细想

参考例句：

• The theatre has a revolving stage. 剧院有一个旋转舞台。
• The company became a revolving-door workplace. 这家公司成了工作的中转站。