U.S. gets set for higher-priced holiday season: media

NEW YORK, Nov. 18 (Xinhua) -- U.S. small businesses that count on food-centric holidays like Thanksgiving and Christmas are bracing for a difficult season, as higher prices are hitting everyone in the country with food vendors seeing some of the biggest increases, reported The Associated Press over the weekend.

At the wholesale level, egg prices are more than triple what they were a year ago, milk prices are up 34 percent and butter is up 70 percent, according to data from the U.S. Department of Agriculture. Businesses are also paying more for everything from packages to labor.

"Many owners are raising prices to offset the higher costs. But raising prices too much risks driving away the crucial holiday shopper," said the report.

So, businesses are adapting: adjusting the way they make products, changing gift basket components and adding free gifts instead of giving discounts, among other steps, it noted.

"Every year is a guess, and the economy makes it even more volatile," a food retailer was quoted as saying.