One thing to be grateful for this US Thanksgiving is that a turkey dinner for 10 people has gotten cheaper for the third year in a row. That’s in line with a broader trend in which US inflation has cooled since hitting a 40 year peak back in 2022. But nearly 65% of Americans are still upset about rising prices, according to a recent Pew Research Poll. How to reconcile those two things? Look at the big picture. Americans have just been through the most inflationary five-year period since Madonna’s “Like a Virgin” topped the charts. That’s what shapes people’s perceptions, more than year-to-year data. And remember, even if inflation is only around 3%, that still means prices are only going in one direction: up. Here’s a look at the data – discuss it at the table!
Graphic Truth
Graphic Truth: Turkey is cheaper, but inflation still gobbles
Eileen Zhang
By Alex Kliment,
Alex Kliment
Alex wears a few different caps and tips them all regularly. He writes for the GZERO Daily, works as a field correspondent for GZERO's nationally syndicated TV show GZERO WORLD WITH IAN BREMMER, and writes/directs/voices GZERO's award-winning puppet satire show PUPPET REGIME. Prior to joining GZERO, Alex worked as an analyst covering Russia and broader Emerging Markets for Eurasia Group. He has also written for the Financial Times from Washington, DC, and Sao Paulo Brazil. In his spare time, he makes short films and composes scores for long ones. He studied history and Slavic literature at Columbia and has a Master's from Johns Hopkins SAIS. He's a native New Yorker, a long-suffering Mets fan, and owns too many bicycles.
