Eggs are up 50% from last year. How much is inflation hitting your holiday meals?

Loading up on eggnog, cookies and other holiday favorites is going to cost more this year.  

While inflation is starting to slow, food prices are still far above where they were for the 2021 holiday season. Grocery prices in November were up 12% year-over-year, according to data from the Bureau of Labor Statistics.

"There's just been that upwelling of prices across the board," said Michael Swanson, lead economist for Wells Fargo. "So it's going to be more expensive, but there are some bright spots that are developing for some of the more festive foods."

Ease back into the holidays safely and with optimal health.

How much has the price of food increased in 2022?

Common ingredients and holiday favorites are costing more this year, according to the Bureau of Labor Statistics. Here's how much prices for some holiday staples have gone up from November 2021 to November 2022:  

  • Flour: 25%
  • Bread: 16%
  • Cookies: 19%
  • Crackers: 20%
  • Pies, tarts and turnovers: 19%
  • Ham: 8%
  • Uncooked poultry, including turkey: 18%
  • Eggs: 49%
  • Milk: 15%
  • Potatoes: 16%
  • Sugar and sweets: 13%
  • Butter: 27%
As of November, the price of ham was up 8% compared to the same time last year, according to the Bureau of Labor Statistics.

Families can expect to spend about 16% more to feed their families during the holidays compared with last year, according to a report from the market research firm Datasembly.

The findings were based on the prices for 13 popular holiday grocery items – including eggnog, green beans and a bone-in spiral-cut ham –  at Albertsons, Kroger, Target and Walmart. This year's increase is double the price difference Datasembly calculated in 2021. 

How can I save money on holiday shopping?

Inflation is still hitting U.S. consumers' wallets, but Wells Fargo's Swanson noted that there is some good news from the Bureau of Labor Statistic's latest consumer price index report. 

“There are some of those holiday favorites that are actually starting to show some pretty decent declines,” he said. 

Fresh fish and seafood, beef, pork ribs and pork roasts are just some examples of grocery store items that saw price drops between October and November. 

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The price of turkey in November was up 18% from the prior year, according to a report from the Bureau of Labor Statistics.

For shoppers looking to cut costs this holiday season, Swanson suggests taking the time to shop around for the best deals. 

“Give yourself time to shop two or three stores to see which ones really are offering you the best bargain, because one thing is very, very certain: It’s not uniform. It's not like there's a uniform price for anything out there in the market. If you shop around, you'd be surprised how wide the spread could be at certain items,” he said. 

Other tips reported by USA TODAY include: 

  • Shopping store brands and discount grocers. 

  • Buying in bulk at Costco, Sam's Club and BJ's Wholesale.

  • Using cash-back apps and rewards programs like Ibotta and Fetch Rewards.  

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You can follow USA TODAY reporter Bailey Schulz on Twitter @bailey_schulz and subscribe to our free Daily Money newsletter here for personal finance tips and business news every Monday through Friday.