Thanksgiving dinner will gobble up slightly less of Americans’ paychecks this year

Several staple Thanksgiving dinner items are expected to cost slightly less than last year, marking the third straight year of price declines, according to the American Farm Bureau Federation’s (AFBF) 40th annual survey released Wednesday.

The average cost of a classic Thanksgiving feast for 10 people will cost an estimated $55.18, or about $5.52 per person, this year, according to AFBF’s latest survey. This notably marks a 5% decrease from the average costs in 2024, AFBF reported.

“It’s encouraging to see some relief in the price of turkeys, as it is typically the most expensive part of the meal,” AFBF Economist Faith Parum said in a statement. “Farmers are still working to rebuild turkey flocks that were devastated by avian influenza, but overall demand has also fallen. The combination will help ensure turkey will remain an affordable option for families celebrating Thanksgiving.”

The average price for a 16-pound frozen turkey this year is $21.50, or $1.34 per pound, which marks a significant decrease of over 16% from 2024, the survey shows.

AFBF’s report shows that 14-ounces of cubed stuffing mix is expected to cost $3.71 total this year, while 2 frozen pie crusts will cost $3.37, and a half pint of whipping cream is projected to cost $1.87. Meanwhile, one dozen dinner rolls will cost American households $3.56, a 30-ounce can of pumpkin pie mix will cost $4.16, a gallon of whole milk will cost $3.73, three pounds of sweet potatoes will be $4.00 and a 12-ounce bag of fresh cranberries will be $2.28, the survey found.

“We are blessed to live in a country that is capable of producing such an abundant food supply, and for that we should be thankful,” AFBF President Zippy Duvall said in a statement. “Despite modest declines in the cost of a Thanksgiving meal, I know food prices are a real concern for many families, including in rural America. We lost 15,000 farms last year because of factors including historically low crop prices, high supply costs and trade uncertainty, which continue to squeeze farmers and ranchers. Every farm lost is another step toward consolidation and reliance on other countries for our food.”

“We urge Congress to address the challenging economic conditions facing farmers to ensure farm families can continue growing the food we all rely on, not just on Thanksgiving, but every day of the year,” Duvall continued.

The average cost of a Thanksgiving meal reached a record-high of $64.05 total in 2022, when former President Joe Biden was still in office, according to AFBF.

The national average price of gas is expected to be $3.02 per gallon on Thanksgiving Day, marking one of the cheapest holiday averages since 2021, GasBuddy reported on Tuesday. Moreover, Americans are projected to spend a collective $242 billion on holiday gift shopping and almost $311 billion on flights and hotels this holiday season, according to an analysis from NerdWallet released on Oct. 14.

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