What Will Thanksgiving Dinner Cost This Year? — Dollars and Sense
The price of Thanksgiving is going up this year, but not as much as you might think.
According to the latest statistics from the American Farm Bureau Federation, the majority of households can expect to spend about 30 cents more this year to cover the cost of serving up Thanksgiving dinner—just under $50 to feed a family of 10.
That's not too shabby, considering last year Thanksgiving dinner prices jumped by 13 percent, the highest increase in holiday groceries since 1990. However, this year, with the summer drought threatening to further elevate the cost of everything from gobblers to green beans, the end result has turned out less disastrous (for some) than predicted.
You can expect to pay about four cents more per pound for your turkey than you did last year—roughly $1.39 per pound. While the drought did hit farming communities over the summer, making it more expensive to feed turkeys than in years past, many retailers locked in their prices earlier in the year. Because of this, turkey prices will remain relatively low, at least for now.
The Federation adds that most items needed to cook your Thanksgiving feast have either stayed the same in price or decreased. Items like stuffing, sweet potatoes and whipped cream are all down more than 10 cents.
For a breakdown of the cost of Thanksgiving 2012, click here.