A recent Thanksgiving grocery report says that shoppers will spend more money for the holiday meal than they did a year ago.
Axios reports Farm Bureau’s 37th annual Thanksgiving survey shows that 2022 prices for traditional Thanksgiving dinner staples are going to cost Americans around 20% more when compared to last year. The survey, which was released Wednesday, found the average cost of this year’s holiday meal for 10 is $64.05 – up $10.74 from 2021’s average of $53.31.
“This year’s classic Thanksgiving feast for 10 will run you $64.05—less than $7 dollars per person—according to Farm Bureau’s 37th annual #ThanksgivingSurvey,” American Farm Bureau said on Twitter.
Michigan has been particularly hit hard by inflation, according to regional Consumer Price Index (CPI) data from the U.S. Bureau of Labor Statistics. East North Central states, including Michigan, have seen prices increase 7.8% in the last 12 months, before seasonal adjustment.
“General inflation slashing the purchasing power of consumers is a significant factor contributing to the increase in average cost of this year’s Thanksgiving dinner,” said AFBF Chief Economist Roger Cryan. “Other contributing factors to the increased cost for the meal include supply chain disruptions and the war in Ukraine.”
Cryan also notes that higher retail turkey prices can be attributed to “a slightly smaller flock this year, increased feed costs and lighter processing weights.”
According to the Farm Bureau’s cost survey, the cost of a 16-pound turkey is around $28.96 this year – an almost $5, or 21% jump from last year’s average of $23.99 for the same size bird. A four-pound ham that cost $10.87 last year now costs around $11.64 (up 7%).
Other significant price increases to note are the costs for a 14-ounce bag of cubed stuffing mix (up 69%), both sweet and russet potatoes (up 11% and 23%, respectively), dinner rolls (up 22%), two frozen pie crusts (up 26%), pumpkin pie mix (up 18%) and green beans (up 25%). When analyzed on a three-year basis, the cost of Thanksgiving dinner has jumped nearly 32% since 2019.
This year’s national average cost was calculated by Farm Bureau by surveying 224 volunteer shoppers throughout the country. The shoppers visited grocery stores, or their apps and websites, to enter data in the survey concerning grocery prices. Shoppers were allowed to use coupons and promotional deals.
