Special Report
What Thanksgiving Dinner Will Cost This Year - Thanks to Inflation
Published:
Thanksgiving, that annual American rite of food overindulgence, is just weeks away. Before you settle into an easy chair and process that week’s-worth of calories you consumed in a single sitting, however, know this: That feast you just had will be the costliest Turkey Day dinner ever. Turkeys can’t fly, but their prices are soaring. (Of course there are other possibilities: Here are 12 delicious alternatives to turkey for your Thanksgiving feast.)
To compile a list of typical Thanksgiving foods and how inflation has affected their price over the past two decades, 24/7 Tempo reviewed a study by the coupon tracking platform CouponFollow. Surveying about 1,000 consumers for the report, the site compared the average cost of a dozen traditional Thanksgiving foods in 2002, 2012, and 2022 to show the impact inflation has had on them.
The overall cost of a typical Thanksgiving dinner, the report found, has climbed 64% since 2002. This year, Americans plan to spend about $251, on average, for their big holiday meal. According to CouponFollow, millennials are expected to bear the highest costs (about $300) and baby boomers the least ($140). Those identifying as Gen Z and Gen X both reported a budget of about $200.
While all the fixings have soared since 2002, it’s the cost of the bird that’s really climbed. Turkey has seen the greatest increase in price since 2002; a bird that cost about $14 two decades ago is now almost $10 more. (Things could be worse. These are the countries with the worst inflation in the world.)
Click here to see the impact of inflation on Thanksgiving foods
Forty-year inflation and a persistent outbreak of the viral avian flu earlier this year have been driving up the costs of producing turkeys, according to a September story in Forbes. This year, the flu has killed 4.5 million turkeys, or 2.5% of U.S. turkey production. Drilling down into inflation factors, turkey costs have also climbed because of higher feed prices and more expensive fuel.
Turkey
> Cost in 2022: $23.60 — up 28.26% from 2012 and 64.00% from 2002
> Cost in 2012: $18.40
> Cost in 2002: $14.39
[in-text-ad]
Mac and Cheese
> Cost in 2022: $17.86 — up 28.30% from 2012 and 64.00% from 2002
> Cost in 2012: $13.92
> Cost in 2002: $10.89
Sweet potato casserole
> Cost in 2022: $10.68 — up 28.37% from 2012 and 64.06% from 2002
> Cost in 2012: $8.32
> Cost in 2002: $6.51
Pecan pie
> Cost in 2022: $6.82 — up 28.20% from 2012 and 63.94% from 2002
> Cost in 2012: $5.32
> Cost in 2002: $4.16
[in-text-ad-2]
Mashed potatoes
> Cost in 2022: $6.81 — up 28.25% from 2012 and 64.10% from 2002
> Cost in 2012: $5.31
> Cost in 2002: $4.15
Stuffing
> Cost in 2022: $6.17 — up 28.27% from 2012 and 64.10% from 2002
> Cost in 2012: $4.81
> Cost in 2002: $3.76
[in-text-ad]
Green bean casserole
> Cost in 2022: $5.91 — up 28.20% from 2012 and 64.17% from 2002
> Cost in 2012: $4.61
> Cost in 2002: $3.60
Salad
> Cost in 2022: $2.71 — up 28.44% from 2012 and 64.24% from 2002
> Cost in 2012: $2.11
> Cost in 2002: $1.65
Pumpkin pie
> Cost in 2022: $2.50 — up 30.21% from 2012 and 64.47% from 2002
> Cost in 2012: $1.92
> Cost in 2002: $1.52
[in-text-ad-2]
Cranberry sauce
> Cost in 2022: $2.39 — up 27.81% from 2012 and 63.70% from 2002
> Cost in 2012: $1.87
> Cost in 2002: $1.46
Creamed corn
> Cost in 2022: $1.44 — up 28.57% from 2012 and 63.64% from 2002
> Cost in 2012: $1.12
> Cost in 2002: $0.88
[in-text-ad]
Bread rolls
> Cost in 2022: $1.07 — up 28.92% from 2012 and 64.62% from 2002
> Cost in 2012: $0.83
> Cost in 2002: $0.65
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
