the putin price hike as it relates to gas is b.s. we were already paying almost about 50 more a gallon. everything we buy in every store, we have been paying more for because it s been month after month after month of 40 year high inflation. vladimir putin didn t cause that. but this is now the new talking point. explain from your perspective. well, look, i pulled numbers that will help i think. there s a certain inflation amnesia going on with biden ends of the left. gasoline prices were $2.35 in january of 1. by october they were $3.31. up to 40%. that s before putin put any troops on the east side of the ukraine. and as far as the world price goes, you are at $52 in january 21 and it was $84 by october of a posturing 21. that s a 61% gain.
official and morning joe economic analyst steve rattner. this morning he is taking a closer look at the increased costs families are seeing for thanksgiving this year as really a meter on everything. so steve, what is it going to cost? well, it is not only joe s lucky charms that will go up in price, but thanksgiving dinner will cost more this year. sorry, joe. it will cost more for most americans. and we can take a look at what all that means in this chart showing the different pieces of thanksgiving. so you can see that last year actually the price of thanksgiving went down a little bit because of the pandemic for a family ten, went from $48.91 to $46.90, but it year it is going up 14% to $53.31 again for a family of ten. that is the biggest increase in 31 years. and it is almost across the board. turkey itself is up 24%. and if you want a fun fact about
what s needed in the economy. over 10 million job openings in the country going unfulfilled now. i will end with this when it comes to rising prices and the political implications, even the new york times is saying the rises prices could come back to bite democrats and saying the fear of inflation may end upend their electoral prospects in 2022. you love thanksgiving dinner. does this surprise you? while prices are different across the country, grocery store prices are different in new york than in the middle of the country. the average cost for a turkey day thanksgiving feast for 10 people is $53.31. how do they tally that? i don t know how they did that. is that for all 10 people? maybe it s once you eat the actual meal and not all the leftovers and ingredients you can put back on your shelf. a nugget there. it is a little nugget.
pre-pandemic, and since the pandemic or as we ve recovered it has dropped to 11 million barrels a day despite the increase in economic demand. there has been no increase in the supply of oil. the same is true for natural gas. look, the oil price tonight, tonight is trading at $83.05. i checked before i came on. that s double where it was roughly a year ago. natural gas is $5.25, that s almost a double from where it was a year ago. and gasoline which is driven by oil is $3.31. it s not quite a double. so these are crazy policies. we have gone from the swing producer, we have gone from plentiful, relatively cheap oil and natural gas, natural gas is really the beauty of it all, clean burning, relatively clean
pre-pandemic, and since the pandemic or as we ve recovered it has dropped to 11 million barrels a day despite the increase in economic demand. there has been no increase in the supply of oil. the same is true for natural gas. look, the oil price tonight, tonight is trading at $83.05. i checked before i came on. that s double where it was roughly a year ago. natural gas is $5.25, that s almost a double from where it was a year ago. and gasoline which is driven by oil is $3.31. it s not quite a double. so these are crazy policies. we have gone from the swing producer, we have gone from plentiful, relatively cheap oil and natural gas, natural gas is really the beauty of it all,