November 22, 2024
Even though the price tag for this year’s Thanksgiving meal is down 5%, it’s still up nearly 20% from just five years ago. Consumers are exhausted from years of inflation, and it will take more than the past two years’ improvements to ease the pain.
The American Farm Bureau Federation on its 39th annual Thanksgiving dinner survey, which reflects estimates on the cost of Thanksgiving dinner.
Big Picture: The American Farm Bureau Federation (AFBF) estimates that the average cost of a Thanksgiving meal for 10 people will be $58.08 this year. While this marks a 5% decrease from 2023, the cost still remains historically high.
Did You Know? The cost of turkey – which amounts to about 43% of the total Thanksgiving dinner cost – has fallen by 6% this year. Why? Demand. “According to USDA’s Turkeys Raised report, farmers raised 205 million turkeys in 2024, down 6% from last year and the lowest since 1985. Highly Pathogenic Avian Influenza is responsible for the decline in turkeys raised. Typically, fewer turkeys would mean an increase in price, but demand for turkey fell in 2024. USDA estimates per capita demand for turkey is 13.9 pounds per person, down a pound from 2023. This drop in demand has caused prices to fall.” (AFBF)
Read More: Thanksgiving Dinner Costs Are Down Again (American Farm Bureau Federation)
by Stephanie Wagner, based in Florida
