Thanksgiving has never been a cheap endeavor by any stretch of the imagination. Buying all that food, not to mention disposable utensils, increased gas and electricity bills, and probably some other costs I’m not thinking of, is guaranteed to set you back a bit. This year, however, due to the ongoing labor shortages and supply chain issues, it is believed that Thanksgiving will be even more expensive than usual.
According to a survey conducted by the American Farm Bureau Federation, a statistically average Thanksgiving dinner for 10 people, including staples like turkey, gravy, stuffing, sweet potatoes, cranberries, and others, will cost at least 14% more on average this year. That’s an average price point of roughly $53.31, a $6 increase over last year.
“These include dramatic disruptions to the US 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,” said Veronica Nigh, senior economist with the American Farm Bureau Federation.
The price of turkey in particular is up by 24% over last year, with a single bird costing over $20. That said, grocery stores are also eager to use up their entire stock to make what money they can, so prices may start dropping in this last week leading up to the holiday.
Average Cost For Thanksgiving Dinner Hits All-Time High: https://t.co/krdBTDPDZB pic.twitter.com/fWNSfeEltc
— Forbes (@Forbes) November 19, 2021
“Taking turkey out of the basket of foods reveals a 6.6% price increase compared to last year, which tracks closely with the Consumer Price Index for food and general inflation across the economy,” Nigh said.
While prices will be up and shipping may be stalled, the US Department of Agriculture is still confident that everyone who wants have dinner this year will still be able to. “We know that even small price increases can make a difference for family budgets, and we are taking every step we can to mitigate that. The good news is that the top turkey producers in the country are confident that everyone who wants a bird for their Thanksgiving dinner will be able to get one, and a large one will only cost $1 dollar more than last year,” US Secretary of Agriculture Tom Vilsack told CNN.