TAMPA, Fla. (WFLA) — New analysis by the American Farm Bureau, a non-profit advocate for farmers and ranchers in the United States, showed the costs of putting together a Thanksgiving feast have gone up 20% due to inflation.
“General inflation slashing the purchasing power of consumers is a significant factor contributing to the increase in average cost of this year’s Thanksgiving dinner,” AFBF Chief Economist Roger Cryan said.
According to the Farm Bureau report, data on product prices showed costs for a holiday meal serving 10 increased $10.74 compared to 2021. While in 2021, the price was $53.31 to feed 10 people, in 2022 it is $64.05.
The Farm Bureau’s analysis is based on data from the United States Department of Agriculture’s Marketing Service data. According to the USDA report, the average dollar cost per pound of turkey was nearly $1.00, though the price had declined 14% week-by-week through Nov. 16.
“The share of stores offering feature prices rose from 29% to 60%,” the bureau reported. “This means consumers who have not yet purchased a turkey should be able to find one at a lower cost than the Farm Bureau average.”
Still, the bureau reported that turkey prices were up 21% compared to last year, and for multiple reasons. In addition to turkey, other Thanksgiving and holiday mainstays went up in price in 2022.
| Item | 2021 Price | 2022 Price | $ Change |
|---|---|---|---|
| 16-pound turkey | $23.99 | $28.96 | 4.97$ |
| 30 oz. of pumpkin pie mix | $3.64 | $4.28 | $0.64 |
| 1 gallon of milk | $3.30 | $3.84 | $0.54 |
| 1 pound vegetable tray (carrots and celery) | $0.82 | $0.88 | $0.06 |
| Misc. Ingredients | $3.45 | $4.13 | $0.68 |
| 12 rolls | $3.05 | $3.73 | $0.68 |
| 2 pie shells | $2.91 | $3.68 | $0.77 |
| 1 pound of green peas | $1.54 | $1.90 | $0.36 |
| 12 oz. of fresh cranberries | $2.98 | $2.57 | -$0.41 |
| Half-pint of whipping cream | $1.78 | $2.24 | $0.46 |
| 3 pounds of sweet potatoes | $3.56 | $3.96 | $0.40 |
| 14 oz. of cubed stuffing | $2.29 | $3.88 | $1.59 |
| 4-pound ham | $10.87 | $11.364 | $0.77 |
| 5 pounds of russet potatoes | $2.96 | $3.64 | $0.68 |
| 1 pound of green beans | $1.58 | $1.97 | $0.39 |
“Other contributing factors to the increased cost for the meal include supply chain disruptions and the war in Ukraine,” Cryan said. “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.”
