Thanksgiving dinner may be a little less expensive this year, according to annual survey
Thanksgiving dinner may be less expensive this year, survey shows
Here’s something to be thankful for this Thanksgiving: a recent survey found that your holiday meal may cost a little less this year than last. FOX 5's Josh Rosenthal explains.
WASHINGTON - Here’s something to be thankful for this Thanksgiving: a recent survey found that your holiday meal may cost a little less this year than last.
The backstory:
The American Farm Bureau Federation (AFBF) released its 40th annual Thanksgiving dinner survey, which found that the average cost of this year’s meal may cost Americans about five percent less money than last.
"This is the third straight year of declines, but we saw record-highs in 2022, and while we’re coming back down, we still haven’t gotten to pre-2022 levels," said AFBF Economist Faith Parum.
The group gets volunteer shoppers to check grocery store prices all over the country during the first week of November. Officials said the shoppers look at the same items every year, including turkey, stuffing, sweet potatoes, rolls, peas, cranberries, a veggie tray, and pumpkin pie with whipped cream, all in quantities sufficient for 10 servings.
Talking Turkey:
The Farm Bureau survey found that turkey dramatically dropped in price this year, which played a big part in bringing down the overall cost. That’s despite wholesale turkey prices having increased, because researchers said grocery store deals are keeping retail prices down.
"Thankfully, we know what day all these people are going to want turkeys, and so grocery stores can kind of continue to offer deals and coupons and specials to get people in the store," explained Parum.
Prices have increased for other Thanksgiving staples, Parum added. That includes sweet potatoes, which have been affected by hurricane damage in North Carolina, the country’s largest sweet potato grower.
What they're saying:
Shoppers who spoke with FOX 5 Thursday in Silver Spring said the idea of lower prices sounds good to them. Still, some were skeptical of the survey’s results.
"I feel like grocery shopping has gone up. So, I don’t think I actually believe that," said Seyram Dodor.
Dig deeper:
For more information, you can read the AFBF’s full survey here.