Discover if Your Thanksgiving Dinner Will Cost Less This Year
As families prepare for Thanksgiving dinner this week, many will find that the cost of traditional items has decreased. According to the American Farm Bureau Federation’s annual survey, the average expense for a Thanksgiving dinner serving 10 people is now $55.18. This figure represents a 5% reduction compared to the previous year.
Significant Decrease in Turkey Prices
The main reason for this decrease is a substantial drop in turkey prices, which have fallen by 16%. Turkey remains the largest expense in the Thanksgiving dinner budget. In 2023, a 16-pound turkey will cost around $21.50, down from $25.67 in 2022. This marks the lowest price for turkey since 2000.
Annual Price Comparison
Thanksgiving dinner costs have consistently decreased since 2022, which recorded a high of $64.05. The American Farm Bureau Federation has collected data annually since 1986 from volunteer shoppers across all 50 states and Puerto Rico to determine these figures.
Changes in Other Thanksgiving Food Prices
- Items with Price Reductions:
- Turkey
- Cubed stuffing
- Fresh cranberries
- Dinner rolls
- Items with Price Increases:
- Sweet potatoes
- Frozen green peas
- Carrots
- Certain dairy products (including whole milk and whipping cream)
While pumpkin pie mix and frozen pie crust prices remained stable, the cost of fresh vegetables has seen notable increases. According to the Farm Bureau Federation, these price hikes reflect challenges faced by farmers, including higher costs for fertilizer, fuel, machinery, labor, and land.
Impact of Natural Disasters
Furthermore, last year’s Hurricane Helene significantly affected North Carolina’s sweet potato harvest. This state is responsible for producing nearly half of the sweet potatoes in the United States.
In summary, while many families will benefit from lower prices on turkey and certain sides, the overall trends indicate mixed outcomes for Thanksgiving dinner costs this year.
