Thanksgiving Meal Costs Drop 4.5% to $61.17: Where to Find the Biggest Savings
The American Farm Bureau Federation has released its annual estimate, revealing that the average cost of a traditional Thanksgiving meal has decreased by 4.5% to $61.17 for a feast serving 10 people. This is down from the average price of $64.05 in 2022. With the cost of the meal dropping, many families can find savings and enjoy their Thanksgiving celebrations without breaking the bank.
To determine where the biggest savings can be found, News 6 visited three grocery stores in Central Florida: Aldi, Walmart, and Publix. Prices were compared on the same day, Wednesday, November 8, 2023. The Farm Bureau’s annual Thanksgiving menu includes twelve items, and while miscellaneous ingredients were based on their estimate, everything else was priced out. The goal was to find the closest size to what the Farm Bureau used and look for the best deals on brands.
Here are the price breakdowns for the items according to the American Farm Bureau Federation’s estimates:
– 16-pound turkey: $27.35 or $1.71 per pound (down 5.6%)
– 14 ounces of cubed stuffing mix: $3.77 (down 2.8%)
– 2 frozen pie crusts: $3.50 (down 4.9%)
– Half pint of whipping cream: $1.73 (down 22.8%)
– 1 pound of frozen peas: $1.88 (down 1.1%)
– 1 dozen dinner rolls: $3.84 (up 2.9%)
– Misc. ingredients to prepare the meal: $3.95 (down 4.4%)
– 30-ounce can of pumpkin pie mix: $4.44 (up 3.7%)
– 1 gallon of whole milk: $3.74 (down 2.6%)
– 3 pounds of sweet potatoes: $3.97 (up 0.3%)
– 1-pound veggie tray (carrots & celery): $0.90 (up 2.3%)
– 12-ounce bag of fresh cranberries: $2.10 (down 18.3%)
After visiting the different stores, here’s what News 6 found in terms of prices in Central Florida:
– Walmart Supercenter: Grand Total $42.81
– Aldi: Grand Total $45.32
– Publix: Grand Total $81.61 (with turkey sale price $51.21)
By shopping at multiple stores and taking advantage of the turkey sale at Publix, it was possible to reduce the overall cost even further to $34.12.
While the cost of the traditional Thanksgiving meal has decreased this year compared to 2022, it is still considerably higher, reflecting the impact of high supply costs and inflation on food prices since before the pandemic. Turkey prices, in particular, have driven down the overall cost, with the price of turkeys expected to be down by about 20%.
Barent Nelson, an economist with the American Farm Bureau Federation, attributes the price drop to last year’s bird flu outbreak, which resulted in record-high prices for turkeys and eggs. However, Nelson warns that prices could rise again in the future due to the increased spread of avian influenza caused by the rise in backyard poultry production.
The American Farm Bureau Federation’s Thanksgiving dinner survey provides a record of comparative holiday meal costs over the years. This year’s estimate was calculated based on 245 surveys completed with pricing data from all 50 states and Puerto Rico. Farm Bureau volunteer shoppers checked prices in person and online, looking for the best possible prices without using special promotional coupons or purchase deals.
In conclusion, while the cost of a Thanksgiving meal has decreased, there are still ways to find savings. By shopping smartly and taking advantage of sales and deals at different stores, families can enjoy a delicious Thanksgiving feast without breaking the bank.
