Video: ABC News says gas prices might affect holiday spending

Filed under: Videos

Americans everywhere are feeling the pinch of high unemployment and a stagnant economy. Even the gainfully employed are having a tough go of things, as wages aren't keeping up with inflation.

ABC News took a look at holiday spending, showing how much the price of a turkey dinner has changed in only one year. The big dinner is expected to cost 13 percent more than it did a year ago, and the big bird will cost about $4 more than last year. Those costs are expected to rise in line with the hike in raw materials, but gas prices are to blame as well.

Follow the jump to watch the ABC News video. Gas prices are up on average 53 cents more per gallon than last year, and some experts claim a gallon of petrol could hit $4 per gallon in time for Valentine's Day. We can hardly wait.

Continue reading ABC News says gas prices might affect holiday spending

ABC News says gas prices might affect holiday spending originally appeared on Autoblog on Tue, 15 Nov 2011 10:02:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Source: http://www.autoblog.com/2011/11/15/abc-news-says-gas-prices-might-affect-holiday-spending/

Mobil 1 Dodge Red Bull Toyota Jeff Gordon Rudolf Krause Joe Nemechek Washington Scott Alan Wimmer