Thanksgiving Expenses Drop, Yet Still Higher Than Pre-Biden Levels

By Staff Reporter |

This year’s Thanksgiving dinner will cost less than last year, yet it remains higher than pre-pandemic prices. According to the Farm Bureau’s annual cost analysis, the total price of a traditional feast for ten is approximately $58, a decrease of nearly five percent from 2022. However, this figure is still 20 percent above the cost noted in 2019.

The survey reflects prices gathered from grocery stores across 50 states and Puerto Rico, focusing on essential items such as turkey, stuffing, and pumpkin pie ingredients. While some staple prices have dropped, others have seen increases. Notably, costs for turkey, sweet potatoes, and milk were reduced, whereas dinner rolls, cranberries, and whipping cream rose in price.

The disparity in pricing stems from a mix of factors, including the nature of the item. Processed foods have generally increased due to non-food inflation and labor shortages, impacting the entire food supply chain. Interestingly, even with a recent 12 percent hike, the price of fresh cranberries is still the lowest it has been since 1987.

Average prices for key items this year are as follows: $25.67 for a 16-pound turkey, $2.35 for fresh cranberries, and $1.81 for half a pint of whipping cream. Notably, the price variations are significant across different regions. For instance, residents in the Western states face an average Thanksgiving dinner cost of $67, while those in the Southern states pay around $56. The Northeastern and Midwestern averages are approximately $57 and $59, respectively.

When adding traditional items like ham and green beans, the cost increases further. Southern, Northeastern, and Midwestern households may spend between $81 and $83 for these additions, whereas Westerners can expect to pay over $93.

Farmers are feeling the impact of inflation as well, with projected national net farm income expected to drop by $6.5 billion this year. This reflects the broader economic challenges facing the agricultural sector amidst rising food prices.