Preparing a Thanksgiving meal this year is cheaper than in 2023 but prices remain elevated following a dramatic increase two years ago, according to the American Farm Bureau Federation’s 39th annual Thanksgiving dinner survey.
Grocery prices remain elevated due to the combined impact of supply chain disruptions, inflation, and the effects of the COVID-19 pandemic.
A “classic Thanksgiving feast” for 10 people will cost $58.08 in 2024, down 5% year-over-year but is 19% higher than five years ago, the survey showed.
Prices for turkey, sweet potatoes, peas, milk, and other items have decreased, while costs for dinner rolls, cranberries, whipping cream, and stuffing have increased.
A turkey, which makes up 44% of the meal’s total cost, saw a 6% price drop despite a decline in turkey production due to avian flu.
When including additional items – ham, Russet potatoes and frozen green beans – the meal cost rises to $77.34.
Regional price differences for Thanksgiving dinner were highlighted in the survey, with consumers in the West facing significantly higher grocery costs compared to other regions.
For a classic Thanksgiving dinner for 10 people, the cost in the West is $67.05, which is 14% higher than the average cost across the rest of the country. The Southern US has the lowest Thanksgiving dinner cost at $56.81, followed closely by the Northeast at $57.36 and the Midwest at $58.90.
The survey showed that when the expanded Thanksgiving dinner basket the price differences are even more pronounced.
In the South, Northeast, and Midwest, the expanded meal costs range from $81.07 to $83.04, while in the West, the total cost for the expanded basket jumps to $93.33, which is over $1 more per person than in other regions.