With Thanksgiving just over a week away, the cost of providing that holiday feast will cost more this year, according to a survey released on Wednesday by the American Farm Bureau Federation.
On average, feeding 10 people at a Thanksgiving table will cost 20% more than last year, according to the bureau’s annual survey.
The AFBF pegs the cost of a 10-person holiday meal at $64.05, or less than $6.50 per person.
That figure equates to an overall $10.74 increase over last year’s average cost of $53.31, according to the survey.
For survey purposes, an average Thanksgiving meal comes with turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray, pumpkin pie with whipped cream, and coffee and milk in quantities sufficient to serve a family of 10 with plenty for leftovers.
“General inflation slashing the purchasing power of consumers is a significant factor contributing to the increase in average cost of this year’s Thanksgiving dinner,” AFBF Chief Economist Roger Cryan said in a news release.
“Other contributing factors to the increased cost for the meal include supply chain disruptions and the war in Ukraine. The higher retail turkey cost at the grocery store can also be attributed to a slightly smaller flock this year, increased feed costs and lighter processing weights.”
The bureau conducted its price check for the survey from Oct. 18-31, before most grocery stores started stocking whole frozen turkeys at much lower prices, which would affect the final number.
Frozen turkey prices have dropped since the beginning of the month, according to the Department of Agriculture’s most-recent national retail report.
The average per-pound price for frozen turkeys dropped to 95 cents for the current week, down from $1.11 the week of Nov. 3, representing a 14% drop.
During the same period, the percentage of grocers across the country offering frozen turkeys at or near that price climbed from 29% to 60%.
It’s a different story if you’re looking for a fresh Thanksgiving bird.
A fresh Thanksgiving turkey will cost 6.5% more this year, $1.14 per pound compared to $1.07 last year, according to USDA data.
The USDA turkey price data shows regional differences in prices, with the birds in the Northeast, South Central states and Alaska going for as high as $1.99 a pound and up to $2.99 per pound in Hawaii.
Part of that is due to an outbreak of avian flu, which also hit hard, killing millions of turkeys and chickens. According to USDA data, more than 50 million birds across 46 states have been affected.
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