Why your Thanksgiving dinner will actually cost less this year

With Thanksgiving fast approaching, you’ll actually be spending less on your holiday shopping than you did last year.

The cost of hosting a Thanksgiving feast has fallen, according to the American Farm Bureau Federation’s annual report released Wednesday (Nov. 27). The survey found that a classic, celebratory dinner for 10 people costs about $58.08 on average, down five percent from last year.

However, the cost of a dinner for 10 people is still 19 percent higher today than it was five years ago.

The 2024 survey also examined the price of certain items at a Thanksgiving feast, from turkey to diced stuffing. Seven items have dropped in price this year, including sweet potatoes, frozen peas, pumpkin pie mix, a vegetable tray with carrots and celery, and a turkey. In 2024, a 16-pound turkey will cost an average of $25.67 – six percent less than last year.

However, turkey still accounts for 44.2 percent of the cost of a dinner for 10 people. Additionally, side dishes and other sweets have actually become more expensive this year, including rolls, fresh cranberries, whipped cream and cube filling.

Although some items are more expensive this year, that doesn’t mean they aren’t affordable. When cranberry prices, which have risen 12 percent this year, were adjusted for inflation, the American Farm Bureau Federation found that this was the lowest cranberry cost since 1987.

It’s also important to note that the cost of groceries can vary significantly depending on where in the United States you live. For Americans in the West celebrating Thanksgiving, their grocery bills will be at least 14 percent higher than the rest of the country, with them expected to pay $67.05 for a meal for 10 people.

Meanwhile, other regions of the U.S. are expected to pay less, with dinner for ten costing $56.81 in the South. People in the Northeast spend $57.36 on their Thanksgiving feast for ten people, while people in the Midwest spend $58.90.

In the lead-up to Thanksgiving, many retailers have also released affordable meal boxes – so you can spend less this holiday. Target, for example, is offering its Thanksgiving menu for $20, which includes everything needed to serve a group of four, including a frozen turkey that can weigh up to 10 pounds.

The meal also includes five pounds of potatoes, 14.5 ounces of sliced ​​green beans, 10.5 ounces of cream of mushroom soup, 14 ounces of cranberry sauce, 6 ounces of turkey stuffing and 12 ounces of roasted turkey gravy.

Meanwhile, Aldi is offering a $47 meal for 10 people, including all the fixings for your Thanksgiving turkey and sides. Similarly, Walmart is offering a meal for eight people for $49.69, with 29 select items included in this package.