Inflation's Coming for Your Christmas. Here's How Much More Your Tree Will Cost This Year.
Droughts and wildfires are also putting pressure on the supply of cut trees.
In October, inflation reached 7.7%, impacting everyone, including the Christmas tree growers who saw their operating costs skyrocket by at least 11%, per a survey by the Real Christmas Tree Board. Not surprisingly, those increases will be passed on to consumers.
According to the survey, most growers (71%) will likely up their wholesale price by 5% to 15% year over year. Meanwhile, 11% of respondents will increase their wholesale prices by no more than 5% compared to last year.
An additional 11% of respondents plan to hike their prices by at least 16% to 20%, while 5% foresee raising them by 21% or more.
Fewer than 2% of the growers surveyed said they don't intend to increase their wholesale prices this year.
Although live tree sales have seen a decrease due in part to the rising popularity of increasingly realistic (and convenient) fake trees, The New York Times reported that demand for cut trees has picked up in recent years, especially during the pandemic.
One way to save your wallet this holiday season? Buy your tree early, the ACTA suggests.