Giving thanks

In addition to welcoming family and friends for Thanksgiving dinner, Americans have another reason to give thanks this year: a little extra savings. For the second year in a row, the cost of the traditional holiday dinner has declined. According to the 39th annual American Farm Bureau Federation (AFBF) Thanksgiving dinner survey, the price of a classic feast for 10 people that includes turkey, bread stuffing, sweet potatoes, peas, cranberry sauce, and pumpkin pie fell 5% this year to USD 58.08. The price of an expanded meal that also includes ham, Russet potatoes and green beans fell 8.7% year on year. On the other hand, despite the decline of the last two years, the cost of a classic Thanksgiving dinner is up 20% over the last five years. Further, as the AFBF points out, falling prices mean lower farm revenues while rising input costs have also pressured farmer incomes.

Source: American Farm Bureau Federation, November 2024