Thanks, inflation: Thanksgiving dinner costs 20% more this year, running $65.04 on average — before alcohol
In fact, the cost of buying a turkey and the trimmings to feed a family of 10 is the highest it’s been years, according to the latest American Farm Bureau Federation survey. The Farm Bureau’s 37th annual survey puts the average cost of a classic Thanksgiving feast at $65.04 this year, which is a $10.74, or 20%, increase over last year’s average $53.31 tab.
“General inflation slashing the purchasing power of consumers is a significant factor contributing to the increase in average cost of this year’s Thanksgiving dinner,” said AFBF chief economist Roger Cryan, in a statement. “Other contributing factors to the increased cost for the meal include supply-chain disruption and the war in Ukraine.”
The turkey is gobbling most of this year’s Thanksgiving budget, as usual. The Farm Bureau put a $28.96 price tag on a 16-pound gobbler, which is $1.81 a pound, or up 21% from last year. Indeed, wholesale turkey prices exceeded $1.80 a pound in October, up more than 40 cents a pound over last year, according to the Department of Agriculture, as avian influenza hurt turkey supply, and record-high feed prices contributed to the price increase.
Plus, some grocery chains like Walmart WMT and Aldi have been rolling back prices on Thanksgiving staples, or supermarkets like ShopRite and BJ’s Wholesale Club are giving away free turkeys to rewards members who spent a certain amount money in their stores.
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