The Changing Costs of Thanksgiving Dinner

As Thanksgiving approaches, many families are already planning their festive meals. But this year, Thanksgiving dinner is expected to be more budget-friendly than in recent years. According to the American Farm Bureau Federation, the average cost of a basic Thanksgiving meal for 10 people is $55.18, translating to approximately $5.52 per person. This marks a 5% drop from last year’s prices, highlighting a positive trend for holiday budgets.

Key Components of a Basic Thanksgiving Dinner

The Thanksgiving dinner menu typically includes staple items such as turkey, stuffing, mashed potatoes, cranberry sauce, and pumpkin pie. The Farm Bureau’s report specifically focuses on traditional fare without additional frills, like alcohol:

Turkey: $21.50 for a 16-pound bird, making it the most significant expense.
Stuffing
Cranberry sauce
Pumpkin pie

Interestingly, this year’s average cost is a substantial drop from past years, especially considering the fluctuations caused by factors like inflation and supply chain issues related to bird flu in 2022. To put it into perspective, the cost of Thanksgiving dinner peaked at $6.41 per person in 2022, but thankfully, the trend is heading back down.

A Look Back: The Cost of Thanksgiving Over Time

It’s fascinating to note that the Farm Bureau has been compiling this Thanksgiving survey for 40 years. The prices have certainly changed over time; for example, in 1986, the cost was just $2.87 per person, which is equivalent to around $8.50 today when adjusted for inflation. This historical data provides an insightful viewpoint into how food pricing evolves.

Tips for Budget-Friendly Thanksgiving

While the cost of Thanksgiving dinner is lower this year, many families are still looking for ways to save. Here are a few tips to keep your expenses in check:

Plan your menu: Stick to traditional dishes that don’t involve too many complex ingredients.
Shop sales: Look for deals in the weeks leading up to Thanksgiving.
Portion control: Prepare only what you need to reduce leftovers.

Conclusion

As we’ve observed, the cost of Thanksgiving dinner is experiencing a welcome decline for the third consecutive year, presenting families an opportunity to celebrate without straining their finances. This holiday season, let’s focus on gratitude and good company, while enjoying a delicious meal at a more affordable price.