How Much More Will Thanksgiving Dinner Cost This Year?

Even those who waited 12 months for their next Thanksgiving meal might not share the same smile this year -- if they're the ones paying for it.

According to the Farm Bureau's 36th annual survey, the average cost of this year's Thanksgiving dinner will cost 14% more than last year. 

The Farm Bureau says, "The average cost of this year's classic Thanksgiving feast for 10 is $53.31 or less than $6.00 per person.

"This is a $6.41 or 14% increase from last year's average of $46.90. The centerpiece on most Thanksgiving tables – the turkey – costs more than last year, at $23.99 for a 16-pound bird. That's roughly $1.50 per pound, up 24% from last year."

However, there's a silver lining for those who have yet to buy their turkey. The Farm Bureau says that the volunteer shoppers checked prices roughly two weeks before most grocery store chains began dropping the price of whole frozen turkeys, which are now selling for less than initially reported.

But still, the overall price for hosting Thanksgiving this year will hurt -- especially when it comes to the pies. A package of two frozen pie crusts is up 20% from 2020. And that's a dish no one can go without.

"Several factors contributed to the increase in average cost of this year's Thanksgiving dinner," AFBF Senior Economist Veronica Nigh explains. "

"These include dramatic disruptions to the U.S. economy and supply chains over the last 20 months; inflationary pressure throughout the economy; difficulty in predicting demand during the COVID-19 pandemic and high global demand for food, particularly meat. … The trend of consumers cooking and eating at home more often due to the pandemic led to increased supermarket demand and higher retail food prices in 2020 and 2021, compared to pre-pandemic prices in 2019."

Therefore, you may have to cut a side this year. And if so, I recommend slashing the one-pound veggie tray, which would otherwise cost you 12% more than a year ago. I mean, if something must go...