How much will Thanksgiving dinner cost Iowans in 2023? There's good and bad news.
Donnelle Eller, Des Moines Register
Updated 4 min read
This year's Thanksgiving dinner is going to gobble up less of American's pocketbook this year, falling 4.5% compared to 2022, according to the American Farm Bureau Federation's annual survey of shoppers. A holiday meal for 10 people cost an average of $61.17, the farm group said Wednesday.
This year’s Thanksgiving dinner will cost 4.5% less than last year’s record-high holiday meal, dropping to $61.17 for a gathering of 10, the American Farm Bureau Federation’s annual survey, released Wednesday, shows.
Despite the decline, the cost of the feast is still 25% higher than 2019's pre-pandemic price, the group said. Since then, global supply-chain disruptions and inflation have pushed U.S. grocery bills up. "Inflation is clearly still impacting food prices," said Farm Bureau senior economist Veronica Nigh in a call with reporters Wednesday.
The price of several traditional foods filling Americans’ tables declined this year. The average price of a 16-pound turkey dropped 5.6% to $27.35, according to the Farm Bureau survey, conducted annually for 38 years.
“Traditionally, the turkey is the most expensive item on the Thanksgiving dinner table," accounting for about half the bill, Nigh said. But “turkey prices have fallen, thanks to a sharp reduction in cases of avian influenza, which have allowed production to increase in time for the holiday.”
Turkey prices could fall even more in the days leading up to the holiday. Volunteer shoppers checked prices Nov. 1-6, before most grocery store chains began featuring whole frozen turkeys at sharply lower prices, the Farm Bureau said. But Nigh warned consumers not to wait too long or they could end up with a much larger or smaller turkey than they want.
In addition to turkey, the group's shopping list of traditional fixings includes stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray and pumpkin pie with whipped cream, all in quantities sufficient to guarantee plenty of leftovers.
"While high food prices are a concern for every family, America still has one of the most affordable food supplies in the world,” Farm Bureau President Zippy Duvall said in a statement. “We’ve accomplished that, in part, due to strong farm bill programs" that provide price support in the event of drought, floods or other natural disasters that cut production.
"Although our focus is sharing time with family and friends this Thanksgiving, our thoughts also turn to encouraging Congress to double down on a commitment to passing a new farm bill with a modernized safety net to support those who raise the crops and livestock that supply Thanksgiving dinner and every dinner,” Duvall said.
A new farm bill, hammered out every five years, is part of the budget Congress is now debating.
Nigh said only about 14 cents of every food dollar trickles down to farmers.
"Don't assume farmers come out as winners from higher food prices at the grocery store," she said.
This year's Thanksgiving dinner will cost Americans 4.5% less this year, the American Farm Bureau Federation reported Wednesday.
Here are the individual prices for the components of a traditional Thanksgiving meal:
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%).
Miscellaneous ingredients needed to prepare the meal ― $3.95 (down 4.4%).
30-ounce can of pumpkin pie mix ― $4.44 (up 3.7%).
12-ounce bag of fresh cranberries ― $2.10 (down 18.3%).
Acknowledging some changes in Thanksgiving dinner traditions, the Farm Bureau price survey also includes boneless ham, Russet potatoes and frozen green beans in an expanded menu. Adding these foods to the classic Thanksgiving menu increased the overall cost by $23.58 to $84.75.
This year's Thanksgiving dinner will cost 4.5% less, the American Farm Bureau Federation's annual survey shows. Last year, the feast hit a record high.
The Farm Bureau’s analysis showed regional differences in the cost of the meal: The cost for the classic meal was lowest in the Midwest at $58.66 followed by the South at $59.10, the West at $63.89 and the Northeast at $64.38.
The expanded meal also was the most affordable in the Midwest at $81.83, followed by the South at $82.61, the West at $87.75 and the Northeast at $88.43.
This year’s national average cost was calculated using 245 surveys, completed with pricing data from all 50 states and Puerto Rico. The shoppers checked prices in person and online using grocery store apps and websites. They looked for the best possible prices without taking advantage of special promotional coupons or purchase deals, the group said.
Donnelle Eller covers agriculture, the environment and energy for the Register. Reach her at deller@registermedia.com or 515-284-8457.
