The cost of Thanksgiving dinner has decreased this year, with the average meal now estimated at $5.81 per person, a 5% drop from $6.12 in 2023. This change is primarily attributed to falling turkey prices, which have been impacted by decreased demand due to avian flu, according to the American Farm Bureau Federation’s latest report released on November 25, 2024.
- Thanksgiving dinner costs decreased this year
- Turkey prices dropped due to low demand
- Sweet potatoes and milk prices fell significantly
- Some items like cranberries became more expensive
- South has the lowest Thanksgiving meal cost
- Overall costs remain higher than pre-pandemic levels
This year, the average price for a 16-pound turkey is $25.67, which is $1.60 per pound, reflecting a 6% decrease from the previous year. Turkey typically represents about 43% of the total Thanksgiving meal cost. The reduction in turkey prices is largely due to a smaller turkey flock, the lowest since 1985, and a decline in overall consumer demand. In total, farmers raised 205 million turkeys this year, a 6% decrease from 2023.
Other Thanksgiving staples have also experienced price changes. Sweet potatoes, for example, are now $2.93 for three pounds, a significant drop of 26.2% from last year. Similarly, prices for frozen peas, pumpkin pie mix, and whole milk have decreased, with whole milk seeing a price drop of over 14%. However, some items like cubed stuffing and dinner rolls have increased by about 8% due to rising labor costs, while cranberry prices rose by nearly 12% year-over-year.
The overall cost of a classic Thanksgiving meal varies by region, with the South being the most affordable at $56.81 for ten people, or $5.68 per person. In contrast, the West has the highest cost at $67.81, or $6.78 per person. When additional items such as ham and potatoes are included, the average meal cost rises to $77.34, reflecting an 8.7% decrease from 2023, but still about 19% higher than pre-pandemic levels.
In summary, the cost of Thanksgiving dinner has decreased this year, primarily due to lower turkey prices. While some food items have become cheaper, others have increased in cost, reflecting ongoing inflationary pressures. Overall, families can expect to pay less than last year, but prices remain elevated compared to pre-pandemic levels.
