Nov 23, 2021 - News

Inflation bakes in higher costs to Thanksgiving dinner this year

Data: American Farm Bureau Federation; Chart: Sarah Grillo and Will Chase/Axios; Note: Milk was removed from our analysis, resulting in minor differences between our totals and those reported by the Farm Bureau Federation

It's not your imagination: Cooking a Thanksgiving feast will cost you more this year.

Driving the news: The national average cost of a holiday dinner for 10 is up 14% compared to last year, according to the American Farm Bureau Federation.

  • A 16-pound turkey will set you back nearly $24, almost $5 more than the average cost last year.

Why it matters: Inflation, supply chain issues and "high global demand for food, particularly meat," have all contributed to the cost increases, Veronica Nigh, the bureau's senior economist, said in a release.

Details: Ingredients for a "classic" menu rose to $53 nationally, per AFBF. Add a few more items to your table, like ham and russet potatoes, and the price goes to $68.

  • Yes, but: The Farm Bureau's math is based on feeding a 10-person gathering, which comes out to less than $6 a person.

Zoom in: Pennsylvania Farm Bureau spokesperson Bill Zeiders said rising transportation costs and inflation are driving up the price of Thanksgiving dinner staples in the state.

  • The good news? "There will be plenty of turkeys to meet demand this year," Zeiders said, crediting turkey farmers who worked throughout the pandemic.

Read the full Axios report


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