Thanksgiving dinner in America will cost 20% more than it did last year, according to a new survey released Wednesday by the American Farm Bureau Federation (AFBF).
A dinner for 10 people with 12 menu items including a turkey, stuffing, cranberries, and pumpkin pie mix will be priced at $64.05 on average — up $10.74 from last year. That amounts to about $6.50 per person, according to the annual survey.
The price of a 16-pound turkey is $28.96 on average this year, up 21% from 2021, according to the survey.
General inflation, while still high, has come down slightly in recent months. The U.S. annual inflation rate is 7.7% (compared to 8.2% for the previous month).
But the most recent Consumer Price Index report for food consumed at home reveals a 12% increase over the past year, AFBF pointed out.
"General inflation slashing the purchasing power of consumers is a significant factor contributing to the increase in average cost of this year’s Thanksgiving dinner," said Roger Cryan, chief economist at the American Farm Bureau Federation.
"Other contributing factors to the increased cost for the meal include supply chain disruptions and the war in Ukraine," Cryan said. "The higher retail turkey cost at the grocery store can also be attributed to a slightly smaller flock this year, increased feed costs, and lighter processing weights." Cryan said the supply of whole turkeys available to consumers should be adequate this year, although there may be temporary, regional shortages in some states where avian influenza was detected earlier this year.
The biggest price increases were on stuffing, which is up 69%, and pie crusts and whipped cream — both up 26%, the survey said. Cranberries dropped by 14%, however.
The Farm Bureau also priced out an "expanded holiday menu" with additional items: ham, russet potatoes, and frozen green beans, which would add an additional $17.25 to a meal for 10, CNN Business reported.
Since the survey was taken, prices for frozen turkeys are dropping by about 14% this week, and most grocery store chains are now offering deals, according to an analysis of United States Department of Agriculture data by the Farm Bureau.
The AFBF survey was conducted by 224 volunteer shoppers who checked prices in person and online at grocery stores across all 50 states and Puerto Rico from Oct. 18-31. The shoppers looked for the best possible prices without using coupons or shopping deals, the Farm Bureau said. Shoppers in the western part of the country saw the highest prices while those in the South found the most affordable Thanksgiving menu items.
The AFBF Thanksgiving dinner survey was first conducted in 1986. The informal survey provides a record of comparative holiday meal costs over the years. Farm Bureau’s classic survey menu has remained unchanged since 1986 to allow for consistent price comparisons.
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