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@PressSec - Karine Jean-Pierre
This Thanksgiving, we’re seeing important progress on inflation, with prices lower for: ⬇️ Thanksgiving dinner ⬇️ Gas ⬇️ Airline tickets ⬇️ Car rentals ⬇️ Toys ⬇️ TVs https://t.co/a7fAFu3BbJ
Video Transcript AI Summary
This Thanksgiving, we have reasons to be thankful. Despite challenges like inflation and Russia's war, there has been progress. Gas prices have dropped $1.70 from their peak, airline tickets are down 13%, and car rentals are down about 10%. Grocery inflation is at its lowest in over 2 years, with prices for eggs, milk, bacon, and fresh veggies lower than last year. The cost of a Thanksgiving dinner has also fallen, with prices down for turkey, stuffing, peas, cranberries, pie crust, and whipping cream. Wages are rising, making this Thanksgiving dinner the fourth cheapest ever as a percentage of average earnings. Additionally, prices for toys, used cars and trucks, and TVs have decreased since last year. President Biden's priority is to lower costs for Americans and bring relief to families by strengthening supply chains, reducing energy and healthcare costs, and banning hidden junk fees.
Full Transcript
Speaker 0: Alright. This Thanksgiving, we have a lot to be thankful for. While inflation caused by the pandemic and Russia's war continues to be a challenge, we have seen important progress. Just in a time just in time for holiday travel, gas prices are down $1.70 from their peak. Airline tickets are down 13% over the last year and car rentals are down about 10%.
And as we start preparing our Thanksgiving meals, Grocery inflation is at its lowest level in over 2 years, with prices for eggs, milks, bacon and fresh veggies lower than last year. In fact, according to the American Farm Bureau, the cost of a Thanksgiving dinner fell this year. Prices are down for turkey, stuffing, Peas, cranberries, pie crust and whipping cream. We had a big discussion about whipping cream in the back. I don't Know what whipping cream is.
I know whipped cream, but not whipping cream. Anyway, because wages are rising, this Thanksgiving dinner is the 4th cheap as ever as a percentage of average earnings. Finally, as we look ahead to holiday shopping, since last year, prices for toys are down about 4%. Used cars and trucks are down 7% and TVs are down 9%. Lowering costs for Americans continues to be the President's Top economic priority from strengthening supply supply chains to lowering energy and healthcare costs, to cracking down on price gouging by banning hidden junk fees.
President Biden's policy will continue bringing relief to American families.