Wells Fargo economist says cheap Thanksgiving meals will be more expensive this year

Latin American woman working at a delicatessen wearing a facemask while selling cold meat during the COVID-19 pandemic (Credit: Getty Images)

Penny pinching this Thanksgiving may not be as simple as buying generic, or store-brand goods, according to a new report out today by Wells Fargo’s Agri-Food Institute, which researches the food and beverage industry.

Wells Fargo chief agricultural economist Michael Swanson and his team put together a typical Thanksgiving meal for ten people (complete with fresh cranberries) and found that, while avoiding name-brand products resulted in a savings of $17, generic goods were getting more expensive but that name brand goods were getting cheaper.