The annual American Farm Bureau Federation survey shows families are spending more this holiday season.
According to Farm Bureau’s 37th annual survey on the cost of a Thanksgiving feast for 10 people in the U.S., the average American family will spend 20% more this holiday than last year.
Farm Bureau says the centerpiece on most Thanksgiving tables – the turkey – costs more than last year, at $28.96 for a 16-pound bird. That is $1.81 per pound more, up 21% from last year, due to several factors beyond general inflation.
Farm Bureau says its “volunteer shoppers” checked prices between October 18-31, before most grocery store chains began featuring whole frozen turkeys at sharply lower prices.
Other individual prices checked by Farm Bureau were all up, expect one – cranberries. Here is their list:
- 16-pound turkey: $28.96 or $1.81 per pound (up 21%)
- 14-ounce bag of cubed stuffing mix: $3.88 (up 69%)
- 2 frozen pie crusts: $3.68 (up 26%)
- Half pint of whipping cream: $2.24 (up 26%)
- 1 pound of frozen peas: $1.90 (up 23%)
- 1 dozen dinner rolls: $3.73 (up 22%)
- Misc. ingredients to prepare the meal: $4.13 (up 20%)
- 30-ounce can of pumpkin pie mix: $4.28 (up 18%)
- 1 gallon of whole milk: $3.84 (up 16%)
- 3 pounds of sweet potatoes: $3.96 (up 11%)
- 1-pound veggie tray (carrots & celery): 88 cents (up 8%)
- 12-ounce bag of fresh cranberries: $2.57 (down 14%)
Farm Bureau reports that their analysis revealed regional differences in the cost of the meal.
The cost for the classic meal was the most affordable in the South – $58.42, followed by the Northeast – $64.02, Midwest – $64.26 and West – $71.37.
The expanded meal (classic meal plus ham, green beans and Russet potatoes) was the most affordable in the South – $74.90, followed by the Midwest – $81.53, Northeast – $82.76 and West – $88.55.
“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 American Farm Bureau Federation Chief Economist Roger Cryan. “Farmers are working hard to meet growing demands for food – both here in the U.S. and globally – while facing rising prices for fuel, fertilizer and other inputs.”
Farm Bureau also notes that following their “volunteer shoppers” completed this annual task, according to USDA Agricultural Marketing Service data, the average per-pound feature price for whole frozen turkeys was $1.11 the week of November 3-9 and 95 cents the week of November 10-16, a decline of 14% in just one week; and the share of stores offering feature prices rose from 29% to 60%. This means consumers who have not yet purchased a turkey should be able to find one at a lower cost than the Farm Bureau average.
You can read more about Farm Bureau’s annual holiday cost tracking by clicking here.
