Cost of Thanksgiving Dinner Rises
A classic Thanksgiving meal will likely cost approximately 13 percent more to prepare than in 2010 based on findings from the American Farm Bureau Federation (AMBF).
AFBF’s 26th annual informal price survey of classic items found on the Thanksgiving Day dinner table indicates the average cost of this year’s feast for 10 is $49.20, a $5.73 price increase from last year’s average of $43.47.
“The cost of this year’s meal remains a bargain, at just under $5 per person,” said AFBF President Bob Stallman, a rice and cattle producer from Texas.
The big ticket item – a 16-pound turkey – came in at $21.57 this year. That was roughly $1.35 per pound, an increase of about 25 cents per pound, or a total of $3.91 per whole turkey, compared to 2010. The whole bird was the biggest contributor to the final total, showing the largest price increase compared to last year.
“Turkey prices are higher this year primarily due to strong consumer demand both here in the U.S. and globally,” said John Anderson, an AFBF senior economist.
A gallon of whole milk increased in price by 42 cents per gallon, to $3.66. Other items that showed a price increase from last year were: a 30-ounce can of pumpkin pie mix, $3.03, up 41 cents; two nine-inch pie shells, $2.52, up 6 cents; a ½ pint of whipping cream, $1.96, up 26 cents; one pound of green peas, $1.68, up 24 cents; a 14-ounce package of cubed bread stuffing, $2.88, up 24 cents; a dozen brown-n-serve rolls, $2.30, up 18 cents; three pounds of sweet potatoes, $3.26, up 7 cents; and fresh cranberries, $2.48, up 7 cents.
A one-pound relish tray of carrots and celery declined by a penny to 76 cents, while a combined group of miscellaneous items, including coffee and ingredients necessary to prepare the meal (onions, eggs, sugar, flour, evaporated milk and butter) decreased in price, to $3.10.
“Demand for U.S. dairy products has been strong throughout the year and continues to influence retail prices, as demand for higher-quality food products grows globally,” Anderson said.
He noted that despite retail price increases during the last year or so, American consumers have enjoyed relatively stable food costs over the years, particularly when adjusted for inflation.
For more information, including the full report, please visit http://www.bls.gov/data/.