The average cost of next week’s Thanksgiving dinner will be $53.31 for 10 people, according to data from the American Farm Bureau Federation. That represents a $6.41, or 14%, increase from last year.
A big portion of the increase is due to the cost of turkey. A 16-pound bird runs $23.99 on average this year, which is $1.50 (24%) more per pound than last year. The Farm Bureau notes, however, that this is before the typical price decreases that come closer to the holiday, so many consumers may be able to find a lower price. Also included in the calculations are the prices for stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray, pumpkin pie with whipped cream, and coffee and milk to serve a family of 10 with leftovers.
Farm Bureau Senior Economist Veronica Night said that supply chain disruptions, inflation, and difficulty predicting demand during the pandemic all contributed to the increased costs. In addition, “The trend of consumers cooking and eating at home more often due to the pandemic led to increased supermarket demand and higher retail food prices in 2020 and 2021, compared to pre-pandemic prices in 2019.”
Photo credit: National Turkey Federation