What is the price of your typical Thanksgiving dinner? This year, with economic fluctuations and the ever-looming specter of inflation, one might wonder, “How much will this feast of gratitude cost me?”
This year’s Thanksgiving dinner for 10 will cost $58.08. That’s a 5% drop from last year, which was 4.5% lower than 2022.
Two years of declines don’t erase dramatic increases that led to a record high cost of $64.06 in 2022. Despite the encouraging momentum, a Thanksgiving meal… pic.twitter.com/FSKDX4Ih7n
— American Farm Bureau (@FarmBureau) November 21, 2024
The Traditional Spread
A typical Thanksgiving dinner includes a turkey, stuffing, cranberry sauce, mashed potatoes, gravy, green beans, dinner rolls, and, of course, pumpkin pie for dessert. According to the American Farm Bureau Federation’s annual survey, in 2023, a Thanksgiving meal for ten cost about $61.17. However, for 2024, insights from various sources suggest we’re in for a slight reprieve.
The Wells Fargo Agri-Food Institute reveals that you could see a $17 savings for a party of 10.
2024 Price Trends
Turkey Prices: The centerpiece of the meal, turkey prices have seen a slight decrease. A 16-pound turkey, which last year would set you back $28.96, is now expected to be around $27.35, thanks in part to a decrease in avian influenza cases, allowing for a recovery in turkey production.
Side Dishes: Some side dishes are pricier due to factors like supply chain issues and weather conditions affecting crops. However, overall, there’s a mixed bag with some items like potatoes and cranberries seeing price drops, while others like sweet corn have increased.
Desserts: The beloved pumpkin pie might not hit your wallet as hard this year, with ingredients generally maintaining or slightly reducing in price compared to last year.
However, retail giants like Target and Walmart are offering Thanksgiving meal deals to help ease the financial burden:
Target: Has announced a $20 Thanksgiving meal kit for four, which is $5 less than last year, showcasing their effort to keep holiday traditions affordable (Corporate Target Announcement).
Walmart: Continues its tradition of offering an “Inflation-Free Thanksgiving Meal” for under $70, which serves up to 10 people (Walmart Holiday Meals).
It looks like if we do a little strategic shopping and perhaps a bit of culinary creativity, families can still enjoy the feast without breaking the bank.
So, here’s to hoping that your oven timer ticks true, your gravy is smooth, and your heart is full, no matter the cost.
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