The average cost of Thanksgiving dinner for 10 will be $64.05 this year, a 20% jump from last year’s average of $53.31, according to the American Farm Bureau. Since the 2020 holiday, costs have increased almost 37%.
The Farm Bureau assessed prices of 12 food items in quantities large enough to feed 10 people with leftovers:
- 16-pound turkey
- Pumpkin pie mix, 30 oz.
- Milk, 1-gallon whole
- 1-pound veggie tray (carrots and celery)
- Misc. ingredients
- Rolls, 12
- Pie shells, 2
- Green peas, 1 lb.
- Fresh cranberries, 12 oz.
- Whipping cream, 1/2 pint
- Sweet potatoes, 3 lbs.
- Cubed stuffing, 14 oz.
Every item is more expensive this year compared to last, with the exception of fresh cranberries, whose price is down close to 14%. In recognition of changing holiday traditions, the Farm Bureau also assessed an expanded basket of goods that includes ham (4 lbs.), russet potatoes (5 lbs.), and green beans (1 lb.). The cost of this expanded basket is up 18% from 2021.
“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 AFBF Chief Economist Roger Cryan. “Other contributing factors to the increased cost for the meal include supply chain disruptions 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.”
