Friday, November 18, 2022 by Arsenio Toledo
Data from the American Farm Bureau Federation (AFBF) shows that the cost to complete a Thanksgiving meal is now 20 percent higher this year than it was last year.
According to the AFBF’s annual survey results, the overall average cost of a “classic” Thanksgiving dinner for 10 people is $64.05. This dinner consists of:
This is nearly $11, or 20 percent higher than the average cost of a classic Thanksgiving dinner in 2021. The average price of this classic Thanksgiving meal has been soaring in recent years, according to the AFBF, with data indicating that the average price was only around $20 to $30 in the late 1980s. (Related: Bird flu and food inflation push turkey prices 73% higher than last year.)
“Part of the increases have come from general inflation, which is a real burden on everybody for everything,” said AFBF Chief Economist Roger Cryan. “Part of it has come from some of the challenges in the food supply chain, including the disruption of war around the world and difficulties of just meeting a rise in demand in a recovering world economy.”
Some specific Thanksgiving-related food items are reporting much higher price increases than others. The average price of a 16-pound turkey, for example, is $28.96, or nearly $5 more than the $23.99 average price in 2021. This is a 21 percent increase.
“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,” noted Cryan. He is referring to the avian influenza or bird flu outbreak, which is affecting the turkey supply and has resulted in over eight million turkeys being culled.
Other foods have also reported massive price increases. A 14-ounce pack of cubed stuffing is now $3.88, or 69 percent higher than last year’s price of $2.29. A pound of green peas is 23 percent more expensive this year at $1.9 per pound compared to $1.54 per pound last year. A pack of one dozen dinner rolls is $3.73, or 22 percent higher than last year’s average price of $3.05. A 30-ounce pack of pumpkin pie mix is now $4.28, a 17.5 percent increase from last year’s average price of $3.64.
Despite the higher prices, many American consumers have noted that this will not change their spending plans for the holiday. A LendingTree survey of over 1,500 consumers noted that 44 percent will not let inflation affect their Thanksgiving plans or budget. Only 27 percent said they will be taking into consideration store coupons and other discounts when making their Thanksgiving purchases.
Read more news about soaring food prices in America and around the world at FoodInflation.news.
Watch this episode of the “Health Ranger Report” as Mike Adams, the Health Ranger, discusses how more Americans are skipping meals because food has become unaffordable.
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