Your Thanksgiving Dinner was Actually Cheaper This Year; Here’s Why

Grocery shopping isn't cheap these days, but recent reports show people may be paying less for their Thanksgiving meal this year.

How Much People Spend For Thanksgiving Dinner

According to an NPR report, the American Farm Bureau Federation has been tracking Thanksgiving spending since 1986. In 2023, the federation estimates Americans are spending an average of $61.16 for a Thanksgiving meal that will feed 10 people.

The average cost of a Thanksgiving meal for 2023 is down 4.5 percent from last year. But that doesn't mean families suddenly have a bunch of extra money to put toward holiday spending.

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NPR says the $61.16 average spend in 2023 is the second highest total since the federation started reporting annual prices.

Why Thanksgiving Meals Are Cheaper In 2023

Much of the lower Thanksgiving food costs this year can be attributed to one item - the turkey.

Fox 5 in Washington D.C. reported that while food prices have inflated, the price of turkey has gone down. An abundance of turkeys this year has called for lower prices on the meat.

The station's report states the U.S. has nearly 220 million turkeys this year which has caused a 22% drop in prices for frozen turkeys.

"However, on the downside, we still find ourselves in a situation where prices are higher than pre-pandemic levels," FOX 5 said.

Turkey prices in 2022 skyrocketed due to supply chain issues. The Carolina Journal reported an outbreak of avian influenza hampered inventory last year.

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The website also said prices of some vegetables, including sweet potatoes, lowered this year, but there are still plenty of other factors keeping Thanksgiving meal costs high.

"Items that require more production, like rolls and pies, will show price increases this year due to increases in supply chain costs, labor and other factors," The Carolina Journal said.