PORTSMOUTH, Va. (WAVY) — Thanksgiving dinner will cost slightly less this year, but families are still feeling the weight of inflation.
The American Farm Bureau Federation’s annual Thanksgiving dinner survey reveals that the cost of a classic holiday feast for 10 people is $58.08, down 5% from 2023. However, that’s still 19% higher than it was five years ago, highlighting the impact of rising prices on grocery budgets.
The survey, which tracks the cost of staple items like turkey, stuffing and pumpkin pie, shows that consumers are getting some relief. Yet families across the country are adjusting as inflation continues to stretch household budgets.
Turkey prices drop, cranberries rise
The star of the Thanksgiving table — the turkey — helped lower the overall cost of dinner. A 16-pound bird will cost an average of $25.67, or $1.68 per pound, which is 6% less than last year. Fresh vegetables and whole milk also saw price drops, with milk prices falling more than 14% thanks to favorable weather conditions for dairy production, according to the AFBF.
However, stuffing and dinner rolls saw an 8% increase, while cranberries rose by a whopping 12%.
Regional Price Differences
Where you live can also impact your Thanksgiving bill. The AFBF survey found that families in the west pay the most, with an average cost of $67.05 for a dinner serving 10. Southern diners enjoy the lowest costs at $56.81, followed by the northeast at $57.36 and the midwest at $58.90.
Finding Savings
For those looking to save, major grocery chains are offering budget-friendly options:
- Aldi: Thanksgiving bundles for $47, including turkey, sides and pie.
- Walmart: A 29-item meal for eight at $52.46, part of its inflation-free holiday promotion.
- Target: A $20 Thanksgiving meal for four, featuring essentials like turkey, stuffing, and cranberry sauce.
- Kroger: A “Fresh Giving” page with discounts on Thanksgiving items, with meals priced at under $4.85 per person.
These deals cater to families who want to celebrate the holiday without breaking the bank.
For many families, even these discounted options are out of reach.
Cathy Davis, executive director of Oasis Social Ministry, said her organization has seen an increase in demand for Thanksgiving assistance this year.
Davis also noted that donations to the Foodbank of Southeastern Virginia and the Eastern Shore have decreased as donors deal with higher grocery bills themselves.
While the 5% drop in prices this year is a welcome, it doesn’t erase the dramatic increases seen over the past five years. In 2022, Thanksgiving dinner costs hit a record high of $64.05, driven by pandemic-related issues and inflation.
For families navigating these financial pressures, experts recommend planning meals early, shopping during peak sales closer to Thanksgiving, and considering bundle deals.
This Thanksgiving, whether you’re shopping for bargains or turning to community resources, there are ways to enjoy the holiday without breaking the bank — and to share the spirit of giving with those who need it most.