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As Americans prepare for Thanksgiving, they’ll see some relief in food prices for their Thanksgiving dinner. In the American Farm Bureau Federation’s 38th annual Thanksgiving dinner survey, we find that this year’s classic Thanksgiving feast for 10 will be $61.17, or approximately $6.12 per guest. Stubbornly high inflation is continuing to strain the budgets of American households this Thanksgiving, as a new report by LendingTree finds that the costs are up 19% from a year ago. LendingTree's survey found that on average, Thanksgiving dinner hosts plan to spend $431 on food, drinks and decor for the celebration. Inflation rose at a 2.6% annual rate in October, according to the consumer price index report released last week. But, most importantly in the report to America's home chefs: Food at home prices ... The turkey, the centerpiece of many Thanksgiving tables, has contributed to lowering the overall cost of the meal. A 16-pound turkey now averages $25.67, or $1.60 per pound, 6% less than last year. Turkey prices drop 6% due to cooling demand; Thanksgiving meal costs 19% more than pre-pandemic; Other ingredients' prices fall, processed items rise Data shows holiday meal staples are collectively at their cheapest, after adjusting for inflation, in nearly 40 years — not including Covid-hit 2020. Gathering around the table for a Thanksgiving dinner won’t take as much of a toll on your pocketbook this year compared to 2022, but the meal still reflects historically high costs. The American Farm Bureau Federation’s 38th annual survey provides a snapshot of the average cost of this year’s classic holiday feast for 10, which is $61.17 ... Understanding the costs of key ingredients is essential for budgeting your Thanksgiving meal. Turkey Prices. If you prefer a traditional turkey dinner for Thanksgiving, you’re in luck: Americans can expect to pay $25.67 for a 16-pound turkey this year — an average of $1.60 per pound. Because average wages rose 4% from 2023 to 2024, it took 9% less work time for us to pay for this year’s Thanksgiving dinner.” ... Some Thanksgiving meal packages offer more ingredients, but ...

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