Price Of Thanksgiving Dinner Goes Down This Year
The American Farm Bureau Federation’s 28th annual informal price survey of classic items found on a Thanksgiving Day dinner table indicates the average cost of this year’s feast for 10 is $49.04, a 44-cent price decrease from last year’s average of $49.48.
The big ticket item – a 16-pound turkey – came in at $21.76 this year. That was roughly $1.36 per pound, a decrease of about 3 cents per pound, or a total of 47 cents per whole turkey, compared to 2012. The whole bird was the biggest contributor to the final total, showing the largest price decrease compared to last year.
John Anderson, AFBF’s deputy chief economist, says, “Most Americans will pay about the same as last year at the grocery store for a turkey and all the trimmings. Slightly higher turkey production for much of the year coupled with an increase in birds in cold storage may be responsible for the moderate price decrease our shoppers reported.”
Strategic shoppers may pay even less for frozen tom turkey compared to AFBF’s 167 volunteer shoppers who checked prices at grocery stores in 34 states.
“Special sales and promotions on turkey and other holiday food items will continue right up to Thanksgiving,” Anderson explained. “If you have the patience to wait until the last minute to buy a turkey you might come home with an exceptional bargain,” he said.
The AFBF survey shopping list includes turkey, bread stuffing, sweet potatoes, rolls with butter, peas, cranberries, a relish tray of carrots and celery, pumpkin pie with whipped cream, and beverages of coffee and milk, all in quantities sufficient to serve a family of 10. There is also plenty for leftovers.
The average cost of the dinner has remained around $49 since 2011. Further, Anderson noted that despite retail price increases during the last year or so, American consumers have enjoyed relatively stable food costs in general over the years, particularly when adjusted for inflation.
The stable average price reported this year by Farm Bureau for a classic Thanksgiving dinner tracks closely with the government’s Consumer Price Index for food eaten at home (available online at http://www.bls.gov/news.release/pdf/cpi.pdf), which indicates a 1 percent increase compared to a year ago.
The AFBF survey was first conducted in 1986. While Farm Bureau does not make any scientific claims about the data, it is an informal gauge of price trends around the nation.