You might not be having a feast for ten people this Thanksgiving, but if you are, you can be thankful that it costs less than last year, according to the American Farm Bureau Federation’s annual survey.
Farm Bureau’s 35th annual survey indicates the average cost of this year’s Thanksgiving feast for 10 remains affordable at $46.90 or less than $5.00 per person. This is a $2.01 decrease from last year’s average of $48.91.
“The average cost of this year’s Thanksgiving dinner is the lowest since 2010,” said AFBF Chief Economist Dr. John Newton. “Pricing whole turkeys as ‘loss leaders’ to entice shoppers and move product is a strategy we’re seeing retailers use that’s increasingly common the closer we get to the holiday,” he explained.
The centerpiece on most Thanksgiving tables – the turkey – costs less than last year, at $19.39 for a 16-pound bird. That’s roughly $1.21 per pound, down 7% from last year. The survey results show that retail turkey prices are the lowest since 2010.
Click here to see the cost comparison for the whole dinner including turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray, pumpkin pie with whipped cream, and coffee and milk.