Thanksgiving is a time of family, food, and tradition. However, when it comes to the meal itself, many Americans are noticing a shift in prices. While grocery bills for Thanksgiving dinners are lower than they were last year, there’s a notable regional difference, with the West having some of the highest prices for typical holiday foods. If you’re planning your Thanksgiving menu this year, you may be relieved to know that many classic items have gotten more affordable—but the cost of feeding a family can still vary quite a bit depending on where you live.
This year, the American Farm Bureau Federation, which has tracked the cost of Thanksgiving dinners for nearly four decades, reports that a meal for 10 will cost about $58.08, a decrease of about 5% compared to last year. Still, this price is 19% higher than pre-pandemic costs. Let’s dive into what’s behind these numbers and how prices differ across the U.S.
Cost of Thanksgiving Dinner in 2024
If you’re wondering how much your Thanksgiving meal will cost this year, the answer is a little less than last year. For a traditional Thanksgiving dinner for 10 people, you can expect to pay $58.08 on average. That’s good news for shoppers, especially after years of rising grocery bills due to inflation. Compared to 2023, this price is down by around 5%, but it’s still a bit of a shock compared to pre-pandemic years when the cost was lower.
While this drop is a welcome relief for many, it’s important to note that prices are still higher than they were before the pandemic hit. The cost of some of the most important ingredients, like turkey, sweet potatoes, and milk, may be down, but others—such as cranberries and dinner rolls—have gone up.
Regional Price Variations
Thanksgiving dinner prices can vary significantly depending on where you live. The overall average cost of the meal is $58.08, but prices differ from region to region. Here’s a breakdown of the average Thanksgiving dinner cost in different parts of the United States:
- West: $67.05
- South: $56.81
- Northeast: $57.36
- Midwest: $58.90
As you can see, the Western U.S. stands out with the highest average price for Thanksgiving dinner. This is a result of several factors, including local inflation rates and food supply chain issues. Let’s explore what makes the West more expensive and how these trends impact your grocery bill.
Why the West is the Most Expensive
Several factors contribute to the higher costs of Thanksgiving dinners in Western states. One reason is that food inflation is still affecting the region. According to experts, food prices in the West are expected to increase by about 2.5% this year. This rise, while moderate, still adds up when it comes to holiday meals. Additionally, Western states tend to have higher transportation and labor costs, which can make grocery prices more expensive than in other regions.
In Utah, for example, Dave Davis, president and CEO of the Utah Food Industry, mentioned that grocery prices have increased due to inflation, but the trend is improving. While some items are more expensive, such as cranberries and dinner rolls, other staple ingredients like turkey have seen price drops.
Turkey Prices: A Big Part of the Cost
For many, turkey is the centerpiece of the Thanksgiving table, and its price has a significant impact on the overall cost of the meal. In 2024, turkey prices have decreased by 6%, which is good news for shoppers. The average 16-pound turkey is priced at $25.67, which is a per-pound cost of around $1.68.
This drop in turkey prices is a bit surprising, considering the impact of avian influenza over the past couple of years. While the outbreak caused a significant spike in prices in previous years, the demand for turkey has decreased, which has helped bring prices down. This year, shoppers are benefiting from more stable turkey prices, though the cost can still vary depending on the region and specific stores.
Other Key Items: What’s Up and What’s Down
While turkey prices have dropped, other Thanksgiving staples have become more expensive. Dinner rolls, fresh cranberries, whipping cream, and cubed stuffing all saw price increases this year. However, not all prices are up—some of the most common ingredients for Thanksgiving dinner have actually become cheaper.
- Sweet potatoes: Down 26.2%
- Milk: Down 14.3%
- Frozen peas: Down 8.1%
- Frozen pie crusts: Down 2.9%
These decreases are primarily due to better-than-expected harvests and stable supply chains. For example, the price of sweet potatoes has dropped significantly, likely due to improved production and supply in key growing areas.
What’s Behind the Price Drops and Increases?
The changes in food prices can be attributed to several factors. Some price decreases are a result of better-than-expected harvests, such as with sweet potatoes, milk, and peas. Supply chain issues that caused inflation during the pandemic are slowly stabilizing, though they haven’t returned to pre-pandemic levels.
On the other hand, the price increases for items like cranberries and dinner rolls can be traced back to ongoing supply chain issues and higher transportation costs. Additionally, some items are more expensive simply because of higher demand or shorter supplies.
Food Inflation Trends
Food inflation has been a significant concern in recent years, especially after the pandemic caused widespread disruptions in the supply chain. In 2024, food inflation is trending in a better direction, but some costs are still higher than they were before the pandemic. According to the latest data, food prices overall are up about 2.5% compared to last year, but this is considered a manageable level compared to the steep increases of the previous few years.
Restaurant prices, however, are expected to see a more significant increase, with an estimated 4.7% rise by the end of 2024. This is a stark contrast to grocery store inflation, which has remained more stable.
Consumer Expectations for Thanksgiving 2024
Consumers are generally optimistic about Thanksgiving 2024, as the price decreases for key items like turkey and sweet potatoes offer some relief. However, the continued cost of items like cranberries and dinner rolls means that not everyone will experience the same level of savings. Shoppers should be prepared for some surprises at the checkout line.
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The Role of the Federal Farm Bill
The federal Farm Bill plays a crucial role in shaping food prices in the U.S. This bill sets agricultural policy and provides financial assistance to farmers. With the current Farm Bill expiring in September 2023, there’s uncertainty about what this will mean for food prices in the coming years. Without a new bill or an extension, programs like SNAP (Supplemental Nutrition Assistance Program) could lose funding, potentially leading to higher food insecurity for some families.
Regional Differences in Cost and Supply
Local economies can have a big impact on food pricing. States that rely heavily on agriculture, such as those in the Midwest and South, may see lower prices for some Thanksgiving items due to local production and supply chains. In contrast, states on the West Coast often face higher costs due to factors like transportation, labor costs, and local inflation.
Farmers’ Perspective on Thanksgiving Costs
Farmers are dealing with rising production costs, which can impact the prices of Thanksgiving staples. In many cases, these costs are passed down to consumers. However, experts from the American Farm Bureau are optimistic about the future, noting that the abundance of food in the U.S. remains one of the lowest-cost systems globally.
The Thanksgiving Meal: A Breakdown of Prices
Here’s a quick breakdown of the prices for typical Thanksgiving dinner items based on the 2024 survey:
- 16-pound turkey: $25.67
- Cubed stuffing (14 ounces): $4.08
- Frozen pie crusts (2): $3.40
- Whipping cream (half pint): $1.81
- Frozen peas (1 pound): $1.73
- Fresh cranberries (12 ounces): $2.35
- Sweet potatoes (3 pounds): $2.93
- Milk (1 gallon): $3.21
Preparing for Thanksgiving in 2024
If you’re looking to save on your Thanksgiving meal, there are a few strategies to keep in mind. Plan ahead to take advantage of sales and discounts, buy in bulk when possible, and be mindful of regional price differences. The sooner you start shopping, the better prepared you’ll be to score the best deals.
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Conclusion
Thanksgiving 2024 offers a mixed bag when it comes to pricing. Overall, costs are lower than last year, but the West still faces the highest grocery bills due to local inflation and supply chain issues. Turkey prices are down, but other essentials like cranberries and dinner rolls have become more expensive. As always, being a smart shopper and planning ahead can help you make the most of your Thanksgiving budget.
FAQs
Why is Thanksgiving dinner more expensive in the West?
The West has higher food prices due to inflation, transportation costs, and local supply chain issues.
What’s the average cost of a Thanksgiving meal for 10 in 2024?
The average cost is $58.08, down 5% from last year.
Why did turkey prices drop this year?
Turkey prices dropped due to reduced demand, despite the ongoing impact of avian influenza.
Which items saw price increases for Thanksgiving 2024?
Dinner rolls, fresh cranberries, whipping cream, and cubed stuffing all became more expensive.
How can I save money on Thanksgiving dinner this year?
Shop early, take advantage of sales, and compare prices across local stores to get the best deals.