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Higher Cost for This Year's Thanksgiving

This year's Thanksgiving meal is going to cost more than last year's. According to USDA economist Ephraim Leibtag overall the meal will cost about 5% more than last year.

While turkey prices at a base level are higher this year, Leibtag says most shoppers will still find a pretty good promotion so the cost of turkey won't be much more than last year but that's not the case for dairy and bread products.

"If you use milk, butter and cheeses in your meal then those are going to be up quite a bit; 10-20% this year," Leibtag says. "Bread prices are up about 5% this year. Wheat commodity costs have really risen the last three or four months, so any bread products are going to be up more than normal."

Leibtag says consumers can expect to pay about 3% more for ham, beef, pork, fruits and vegetables this year, but potatoes are actually several cents per pound cheaper this year.