Toppling turkey prices are something Americans can be thankful for this year as customary roast dinners should cost $3 less than last year on average.
The centerpiece of Thanksgiving plates plummeted in price by 6 percent while cranberries have plunged by a fifth, meaning the average cost of feeding a family of 10 is $61.17 – or less than $6.20 per person.
This marks a 4.5 percent decrease from last year’s record-high average of $64.05, according to the American Farm Bureau Federation (AFBF) which provides annual surveys.
But the traditional dinner still costs 25% more than in did in 2019 – reflecting the impact of high supply costs and inflation on food prices since the pandemic hit.
Turkeys normally gobble up the majority of a Thanksgiving dinner budget, but this year the declining cost of the bird thanks to a drop in avian flu cases brought down the overall expense.
Toppling turkey prices are something Americans can be thankful for this year as customary roast dinners should cost $3 less than last year on average
The centerpiece of Thanksgiving plates plummeted in price by 6 percent while cranberries have plunged by a fifth, meaning the average cost of feeding a family of 10 is $61.17 – or less than $6.20 per person
The cost of turkey is likely to continue falling before Thanksgiving weekend
The average price for a 16-pound turkey is $27.35, or $1.71 per pound, down 5.6 percent from last year.
And this was before grocery store giants started selling whole frozen turkeys at dramatically decreased prices – meaning people who are yet to buy their bird could make additional savings.
The bureau annually gets a nationwide group of shoppers to price 11 ingredients needed for the traditional meal of turkey, stuffing, sweet potatoes, rolls, peas, cranberry sauce and pumpkin pie
Senior Economist at the bureau Veronica Nigh said turkey populations aren’t plagued by avian influenza this year as much as previous winters – meaning there’s greater supply driving down prices.
‘Traditionally, the turkey is the most expensive item on the Thanksgiving dinner table,’ she said.
‘Turkey prices have fallen thanks to a sharp reduction in cases of avian influenza, which have allowed production to increase in time for the holiday.’
Whipped cream is down a whopping 22.8 percent as it bounces back to pre-Covid levels after last year’s supply chain shortage.
- 16-pound turkey: $27.35 or $1.71 per pound (down 5.6%)
- 14-ounces of cubed stuffing mix: $3.77 (down 2.8%)
- 2 frozen pie crusts: $3.50 (down 4.9%)
- Half pint of whipping cream: $1.73 (down 22.8%)
- 1 pound of frozen peas: $1.88 (down 1.1%)
- 1 dozen dinner rolls: $3.84 (up 2.9%)
- Misc. ingredients to prepare the meal: $3.95 (down 4.4%)
- 30-ounce can of pumpkin pie mix: $4.44 (up 3.7%)
- 1 gallon of whole milk: $3.74 (down 2.6%)
- 3 pounds of sweet potatoes: $3.97 (up .3%)
- 1-pound veggie tray (carrots & celery): $.90 (up 2.3%)
- 12-ounce bag of fresh cranberries: $2.10 (down 18.3%)
But AFBF President Zippy Duvall warned that the current inflation rate of 3.2 percent is having an impact on families across America, and the $3 saving on their Thanksgiving dinner will do little to assuage this.
‘While shoppers will see a slight improvement in the cost of a Thanksgiving dinner, high inflation continues to hammer families across the country, including the nation’s farmers,’ Duvall said.
‘Growing the food families rely on is a constant challenge for farmers because of high fuel, seed, fertilizer and transportation costs, just to name a few.’
Turkeys normally gobble up the majority of a Thanksgiving dinner budget, but this year the declining cost of the bird thanks to a drop in avian flu cases brought down the overall expense
The cost for the classic meal was the most affordable in the Midwest – $58.66, followed by the South – $59.10, the West – $63.89, and the Northeast – $64.38
The Agri-Food Institute suggested that Americans may be able to get better prices if they live in the states where the goods originate.
‘For consumers on the East and West Coasts, meal ingredients travel many miles to the table, unlike for those consumers in the Midwest.’ read the paper.
AFBF analysis also revealed regional differences in the cost of the meal. The cost for the classic meal was the most affordable in the Midwest – $58.66, followed by the South – $59.10, the West – $63.89, and the Northeast – $64.38.
While inflation has dropped dramatically in recent months – the prices of goods are still rising, just more slowly than previously. And many items will never again be as cheap as they were in 2019, with that economic hardship angering Americans.
Many blame ‘Bidenomics’ for grocery store and gas station prices being noticeably higher than in recent memory.
A gallon of whole milk in August cost $3.93 on average, according to the Labor Department, which was nearly $1 or 29 percent higher than in August 2019.
Meanwhile, a gallon of regular unleaded gasoline cost $3.84 on average last month, 46 percent higher than the $2.63 a gallon four years earlier, the Wall Street Journal reported.