Thanksgiving dinner will cost 20% more than last year due to inflation, according to a new survey released Wednesday by the American Farm Bureau Federation (AFBF).
A feast for 10 people with 12 menu items, including a turkey, stuffing, cranberries, and pumpkin pie mix will cost $64.05 on average, an increase of $10.74 from last year. This works out to about US$6.50 per person, according to the annual survey.
The price of a 16-pound turkey is $28.96 on average this year, up 21% from 2021, according to the survey. Inflation cooled last month but remains elevated at 7.7% for the year ending in October.
“Headline inflation slashing consumers’ purchasing power is a significant factor contributing to the rise in the average cost of Thanksgiving dinner this year,” said Roger Cryan, chief economist at the AFBF.
Anyone who wants a turkey should be able to find one this year, despite instances of some temporary regional shortages in Midwestern states where avian flu was prevalent this year. Supply chain problems stemming from the war in Ukraine have pushed up the cost of Thanksgiving menu items, as well as the costs of inputs for farmers and ranchers, such as feed, fuel and fertilizer.
The survey was conducted with 224 volunteer shoppers who checked prices in person and online at grocery stores in all 50 states and Puerto Rico from October 18-31. Shoppers searched for the best possible prices without using coupons or purchase offers, the AFBF said. Shoppers in the western part of the country saw prices higher, while those in the south found Thanksgiving menu items more affordable.