Thanksgiving dinner price down this year but still well above pre-COVID level
Thanksgiving dinner will cost less than last year but the 2023 feast still is the second-most expensive in 38 years of American Farm Bureau Federation surveys.
Driven by a drop in turkey prices, the overall cost of a dinner and fixings is down 4.5% from last year's record. However, the national average cost of $61.17 for a gathering of 10 - just over $6 per person - is still 25% higher than pre-COVID prices in 2019.
That highlights the effect of high supply costs and inflation on food prices since before the pandemic, according to the bureau federation, a national advocacy group for farmers and ranchers.
In Illinois, the average cost of a dinner for 10 (in sufficient quantities for plenty of leftovers) was $6.39 per person, a 2.5% drop from last year's price, according to the Illinois Farm Bureau.
Food price inflation was 3.7% this past month, the lowest reading in two years, according to Joseph Balagtas, a professor of agricultural economics at Purdue University.
Though cooling, prices still are 3.7% higher than last year and 15% higher than two years ago, according to Balagtas.
Turkey prices have dropped because of a sharp reduction in cases of bird flu allowing production to increase in advance of the holiday, according to AFBF.
The national average cost of $1.71 per pound is down 5.6% from last year, according to the organization.
However, prices were checked Nov. 1-6, before grocery chains began offering frozen turkeys at lower prices. That means shoppers should find additional savings leading up to the holiday, AFBF said.
"There is an overabundance of turkeys this year so the consumer will benefit by paying less and having a larger selection this Thanksgiving," said Greg Koeppen, executive director of the Lake County Farm Bureau.
Koeppen was among the AFBF's 245 shoppers from all 50 states and Puerto Rico who surveyed prices for 11 products. The Thanksgiving dinner survey was first conducted in 1986.
According to the organization, prices were down from last year for fresh cranberries, cubed stuffing, frozen peas, pie shells, whole milk and whipping cream.
Transportation and labor costs have contributed to increases for a celery/carrot tray, sweet potatoes, dinner rolls and pumpkin pie mix but will be offset by lower turkey prices.
This Thanksgiving, the least-expensive food region for Thanksgiving dinner is the Midwest at $58.66, followed by the South at $59.10, the West at $63.89, and the Northeast at $64.38, according to AFBF.
In recognition of changes in tradition, AFBF also surveyed boneless ham, russet potatoes and frozen green beans. Adding those foods to the basic menu increased the cost by $23.58.