Thanksgiving may be a little cheaper this year
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The average "classic holiday feast for 10" will run $55.18 this Thanksgiving, per the American Farm Bureau Federation's new annual survey.
- That's about $5.52 per person, and down about 5% from last year — the third straight year of declines.
Yes, but: "Three years of declines don't fully erase dramatic increases that led to a record-high cost of $64.05 in 2022," AFBF says.
How it works: The group's estimate is based on a basket of traditional Thanksgiving favorites, including (of course) turkey, sweet potatoes, stuffing and more.
- Prices were gathered by volunteer shoppers nationwide both in person and using grocery store apps and websites.
- "They looked for the best possible prices without taking advantage of special promotional coupons or combined purchase deals," per AFBF.
Zoom in: Cheaper turkey is driving much of the overall decline.
- The average price of a 16-pound frozen bird is $21.50 this year, down over 16% from last Thanksgiving.
Between the lines: Wholesale turkey prices are up amid avian flu outbreaks, but retailers are eating into their margins to keep prices down at the grocery store, Axios' Kelly Tyko reports.
What they're saying: "Farmers are still working to rebuild turkey flocks that were devastated by avian influenza, but overall demand has also fallen," AFBF Economist Faith Parum said in a statement.
- "The combination will help ensure turkey will remain an affordable option for families celebrating Thanksgiving."
Meanwhile: A separate Deloitte survey based on a different basket of goods found that a Thanksgiving dinner for eight people will run $76.50 — "up only 0.6% from 2024 and somewhat below the food-at-home inflation rate."
