Thanksgiving 2024 Brings Relief with Cheaper Turkey Prices, Lower Dinner Costs
As Thanksgiving 2024 approaches, there's good news for families looking to enjoy a traditional holiday feast without breaking the bank. This year, the cost of Thanksgiving dinner has seen a welcome decrease, thanks in large part to a drop in turkey prices. According to the American Farm Bureau Federation’s annual Thanksgiving survey, the price of a traditional dinner for 10 people is expected to be $58.08, which is a 5% reduction from last year. Although this marks a significant improvement, the overall cost is still 19% higher compared to pre-pandemic prices in 2019.
The biggest factor in the cost reduction is the price of turkey. The centerpiece of many Thanksgiving tables, the 16-pound turkey is priced at an average of $25.67 this year, a 6% decrease from 2023. This is a relief for many families, as turkey often makes up the largest portion of the holiday meal's expenses. Despite challenges like a smaller turkey flock due to avian influenza, a drop in demand has led to more affordable prices at the grocery store, helping ease the financial strain for many.
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In addition to turkey, other traditional Thanksgiving items have also seen price fluctuations. Whole milk, for example, has dropped by over 14%, now costing an average of $3.21 per gallon, thanks to improved weather conditions for dairy farming. Frozen peas are down by 8.1%, and vegetables like celery and carrots have also seen a decrease. However, not all items have become more affordable; cubed stuffing and dinner rolls have risen by 8% due to higher labor costs, and cranberries have experienced the largest increase, jumping almost 12% from last year.
While the reduction in dinner costs is a positive trend for many households, the reality of inflation is still a concern. The cost of groceries has been rising steadily since 2021, and while some price hikes may slow, experts are not predicting a drastic drop anytime soon. Despite these concerns, Thanksgiving shoppers are finding ways to save by taking advantage of early bird deals and loyalty programs offered by grocery stores.
Regional differences also affect the price of the meal, with the South being the most affordable region for Thanksgiving dinner at $56.81. The West, on the other hand, sees a substantial increase, with the average cost reaching $67.81, which reflects both local price variations and supply chain factors.
For those seeking to cut costs even further, there are practical steps that can be taken. Smaller turkeys, particularly those weighing around 12 to 14 pounds, can be a more affordable choice for smaller gatherings. Shopping for frozen turkeys instead of fresh ones and using store loyalty programs to secure discounts are other smart ways to save money. With thoughtful planning and some shopping savvy, families can enjoy a festive and satisfying Thanksgiving meal without overstretching their budgets.
So, while Thanksgiving 2024 may still be more expensive than pre-pandemic years, the overall decrease in dinner costs—especially for turkey—provides some relief. For many, this year’s holiday meal will be a bit more affordable, making it easier to gather around the table with loved ones and enjoy the season of thanks.
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