The toppling of turkey prices is something Americans can be thankful for this year, as the usual roast dinners should cost an average of three dollars less than last year.
The price of Thanksgiving plates fell 6 percent, while cranberries fell by a fifth. This means that the average cost of feeding a family of ten is $61.17, or less than $6.20 per person.
This represents a decline of 4.5 percent from last year’s record-high average of $64.05, according to the American Farm Bureau Federation (AFBF), which conducts annual surveys.
But the traditional dinner still costs 25% more than in 2019, reflecting the impact of high supply costs and inflation on food prices since the pandemic struck.
Turkeys normally eat up most of a Thanksgiving dinner budget, but this year the bird’s falling cost thanks to a drop in avian flu cases led to a drop in overall costs.
The toppling of turkey prices is something Americans can be thankful for this year, as the usual roast dinners should cost an average of $3 less than last year
The centerpiece of the Thanksgiving plate dropped in price by 6 percent, while cranberries are down by a fifth, meaning the average cost of feeding a family of ten is $61.17 — or less than $6,000. 20 per person
The cost of turkey will likely continue to drop ahead of 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 supermarket giants started selling whole frozen turkeys at dramatically lower prices – meaning people who have yet to buy their bird can get extra savings.
The agency annually asks a national group of customers to determine the price of 11 ingredients needed for the traditional meal of turkey, stuffing, sweet potatoes, rolls, peas, cranberry sauce and pumpkin pie
Senior economist at the agency Veronica Nigh said turkey populations are not being plagued by bird flu as much this year as previous winters – meaning there is a greater supply, which is pushing down prices.
“Traditionally, the turkey is the most expensive item on the Thanksgiving dinner table,” she said.
“Prices in Turkey have fallen thanks to a sharp drop in bird flu cases, allowing production to increase in time for the holidays.”
Whipped cream has fallen by as much as 22.8 percent, returning to pre-corona levels after last year’s supply chain shortage.
Individual prices:
- 16-pound turkey: $27.35 or $1.71 per pound (down 5.6%)
- 14 ounces cubed stuffing mix: $3.77 (down 2.8%)
- 2 frozen pie crusts: $3.50 (down 4.9%)
- Half pint of whipped cream: $1.73 (down 22.8%)
- 1 pound of frozen peas: $1.88 (down 1.1%)
- 1 dozen dinner rolls: $3.84 (+2.9%)
- Miscellaneous ingredients to prepare the meal: $3.95 (down 4.4%)
- 30-ounce can of pumpkin pie mix: $4.44 (+3.7%)
- 1 gallon whole milk: $3.74 (down 2.6%)
- 3 pounds of sweet potatoes: $3.97 (0.3% increase)
- 1-pound vegetable leaf (carrots and celery): $0.90 (+2.3%)
- 12-ounce bag of fresh cranberries: $2.10 (down 18.3%)
But AFBF President Zippy Duvall warned that the current 3.2 percent inflation rate is impacting families across America, and that saving $3 on their Thanksgiving dinner will do little to alleviate it.
“While shoppers will see a slight improvement in the cost of a Thanksgiving dinner, high inflation continues to put pressure on families across the country, including the nation’s farmers,” Duvall said.
“Growing the food families depend on is a constant challenge for farmers due to high fuel, seed, fertilizer and transportation costs, to name a few.”
Turkeys normally eat up the majority of the Thanksgiving dinner budget, but this year the falling cost of the bird thanks to a drop in avian flu cases drove down overall costs
The cost for the classic meal was 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 could get better prices if they live in the states where the goods come from.
“For consumers on the East and West Coasts, meal ingredients travel many miles to the table, unlike consumers in the Midwest.” reading the newspaper.
AFBF analysis also revealed regional differences in the cost of the meal. The cost for the classic meal was most affordable in the Midwest: $58.66, followed by the South – $59.10, the West – $63.89 and the Northeast – $64.38.
Although inflation has fallen dramatically in recent months, the prices of goods are still rising, just more slowly than before. And many items will never be as cheap as they were in 2019, as economic hardship angers Americans.
Many blame “Bidenomics” for supermarket and gas station prices being noticeably higher than in recent history.
According to the Labor Department, a gallon of whole milk averaged $3.93 in August, which was almost $1 or 29 percent higher than in August 2019.
Meanwhile, a gallon of regular unleaded gasoline cost an average of $3.84 last month, up 46 percent from $2.63 per gallon four years earlier, the Wall Street Journal reported.