The new survey by the American Farm Bureau Federation found that the Thanksgiving dinner will cost 14% more this year. Dinner for a family of 10 will cost on average $53.31, up to $6.41 from last year’s average of $46.90, which was down 4% from 2019, the lowest in 10 years.
Several factors led to this year’s increased pricing, including more Americans expected to cook at home as well as economic disruptions. Veronica Nigh, the senior economist with the American Farm Bureau Federation, said that these include dramatic disorders to the US economy and supply chains over the last 20 months; inflationary pressure throughout the economy; difficulty in predicting demand during the COVID-19 pandemic, and high global demand for food, particularly meat.
The most oversized ticket item — turkey — is up 24% since last year. But there are a few caveats. Grocery stores started advertising lower prices later than usual this year. For example, if you were shopping for a turkey during the week of November 5-11, you could have paid 18% more than the following week, November 12-18, the American Farm Bureau found. That means shoppers can still find more affordable turkeys than the Farm Bureau’s estimate of $23.99 for a 16-pound bird.
The entire Thanksgiving meal price includes other staples like stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray, pumpkin pie with whipped cream, and coffee and milk — with enough for leftovers, according to the American Farm Bureau.Turkey saw the sharpest price increase, followed by pairs of pie-crusts up 20% and dinner rolls up 15% at $3.05 for a dozen. The stuffing was the only item that fell in price — down 19% from the year before $2.29 for a 14-ounce bag of cubed stuffing mix, the survey revealed.