Breaking: Average Thanksgiving-Dinner Cost Surged 20 Percent since Last Year

The price of an average Thanksgiving dinner has surged 20 percent since last year.

Providing the holiday meal for ten people in 2022 will cost American families $64.05 on average, up $10.74 from 2021, when the meal cost an average of $53.31, according to a new survey conducted by the Farm Bureau. The average cost of a Thanksgiving dinner increased 14 percent from 2020 to 2021, according to the Farm Bureau.

Breaking down the individual components of the dinner, menu items including the turkey, pumpkin pie mix, stuffing mix, and many other miscellaneous ingredients involved in the usual preparations have all increased in price.

A 16-pound turkey is now $28.96, up 21 percent from last year, “due to several factors beyond general inflation,” the survey states. A 14-ounce bag of cubed stuffing mix is up 69 percent, a half pint of whipping cream is up 26 percent, and a pound of frozen peas is up 23 percent.

The poll, composed of 224 surveys using data from all 50 states and Puerto Rico, was completed between October 18 and 31 by Farm Bureau “volunteer shoppers.” The data was collected before many supermarkets began offering whole frozen turkeys at lower prices, however. While fresh turkeys have spiked in price, whole frozen turkeys have actually dropped from $1.11 per-pound on average the week of November 3-9 to 95 cents the following week, according to USDA Agricultural Marketing Service data.

Regional analysis shows that customers can cook the most affordable Thanksgiving dinner in the South, followed by the Northeast, Midwest, and West.

Inflation is still soaring and suffocating consumers at the grocery store and the gas pump, even as the Federal Reserve has taken aggressive monetary action by repeatedly raising interest rates to curb the trend. General inflation has hovered around 7 to 9 percent for multiple months, while the most recent Consumer Price Index report for food consumed at home rose 12 percent over the last year.

“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,” American Farm Bureau Federation Chief Economist Roger Cryan said.

He noted that there have been other contributing factors for the increased meal price, including supply-chain disruptions stemming from the pandemic and the war in Ukraine.

“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 added of the turkey supply.

 

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Average Thanksgiving-Dinner Cost Surged 20 Percent since Last Year

Providing the holiday meal for ten people in 2022 will cost American families $64.05 on average, up $10.74 from ... READ MORE

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