A survey released on Wednesday (November 19) shows that despite about half of the items on the typical American holiday dinner table being more expensive this year compared to last year, the cost of a Thanksgiving dinner for 10 people will decrease for the third consecutive year due to a significant drop in the price of turkeys.
According to the American Farm Bureau Federation, a non-governmental organization, the estimated cost of a 10-person holiday feast this year is $55.18, a 5% decrease from 2024, marking the lowest level since 2021.
However, this cost is still 13% higher than the “classic meal” the organization found in 2019 (which includes a 16-pound turkey, stuffing, sweet potatoes, peas, rolls, pumpkin pie, and other dishes), at a time when there was no relief measures in response to the COVID-19 pandemic or significant inflation.
In a statement, the Farm Bureau said, “While wholesale prices for fresh turkey have increased compared to 2024, grocery stores are offering Thanksgiving promotions to attract consumers to purchase turkeys again, leading to a reduction in the retail price of holiday turkeys.”
The price of the main dish turkey has dropped by 16.3%, and ingredients like stuffing and rolls are also cheaper. However, about half of the food prices are higher than in 2024, with frozen peas (+17.2%), sweet potatoes (+37%), and fresh vegetable platters (+61.3%) notably higher than last year.
The cost estimate from the Farm Bureau shows that each person will need approximately $5.52. This estimate is based on volunteers conducting procurement activities across the United States in the first week of November.
Since 1986, the Farm Bureau has been conducting cost estimates for the same menu.
Due to the government shutdown, data for October was not available. Available data shows that the Consumer Price Index (CPI) for September measured an inflation rate of 3.0%, the highest level since January. The data also shows that the price increases for various essential household food items in that month reached the highest level in three years, with over half of the index items seeing price hikes exceeding 3%.
In response to dissatisfaction among ordinary families with inflation pressures, President Trump last week cancelled high tariffs imposed on hundreds of imported food items, including beef, bananas, and coffee.
(Reference: Reuters)