Special Poll
A Thanksgiving dinner for 10 people will cost about $58 this year, according to a new report. This marks a decrease of roughly 5% from last year but reflects an increase of nearly 20% compared to 2019, before the COVID-19 pandemic.
Grocery prices are a significant way many Americans feel the impact of inflation, and Thanksgiving, with its emphasis on traditional meals, brings food costs into focus. The American Farm Bureau Federation’s annual survey, released Wednesday, provided these figures based on nationwide prices for a typical basket of Thanksgiving staples. The basket includes turkey, cranberries, sweet potatoes, pumpkin pie mix, and other traditional items. An expanded menu by another source added popular items like ham and potatoes to the lineup.
When adjusted for inflation back to 1982, the Farm Bureau’s basket for this year ranks as one of the least expensive in decades. However, this perspective doesn’t always resonate with the public. Most people think about prices in absolute terms, and grocery costs have been a source of concern since the pandemic, extending through the recent election cycle.
A separate Deloitte survey found that 44% of Thanksgiving hosts are worried about the cost of hosting this year. About three in ten hosts are inviting fewer guests, and some are asking attendees to contribute dishes to help manage expenses.
Thanksgiving highlights the gap between how economists and everyday people perceive inflation and its effects. While long-term trends may show relatively stable prices, the immediate burden of rising costs continues to weigh on many households.