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The Key Takeaways
- The average cost of Thanksgiving dinner in 2024 will be 5% less than it is today.
- Prices for Thanksgiving meals are almost 20% higher in 2019 than they were last year.
- Walmart, Target, Aldi, and other retailers offer deals on Thanksgiving meals for those looking to create a festive feast within a tight budget.
Thanksgiving Dinner could be cheaper for Americans this year.
According to the American Farm Bureau Federation, a Thanksgiving meal for 10 people will only cost $58,08 in 2023. This is a 5% decrease from previous years. This includes the following: turkey, cubed dressing, sweet potatoes and dinner rolls; fresh cranberries and celery; carrots and celery; pumpkin pie crusts and mix, whole milk, whipping-cream, and frozen peas.
According to the survey, despite a decline for the second straight year, the costs of pandemic 2019 are still 19% greater than they were in pre-pandemic 2018.
Turkey Prices Drop; Retailers Offer Deals
Thanksgiving turkeys on average are 6% cheaper this year than they were last year. However, 2024 will mark the lowest number of turkeys produced since 1985. According to the U.S. Department of Agriculture, lower demand for turkey in the United States this year is causing prices to drop.
Many retailers offer Thanksgiving deals to attract shoppers who are value-conscious.
Walmart (WMT), offers a Thanksgiving package that serves eight people, for around $50. That’s $6.25 each. This deal includes a whole, frozen turkey as well as Great Value brand side dishes, Marie Callender’s Southern Pecan Pie, and Jiffy Corn Muffin Mix.
Target (TGT), in its Thanksgiving shopping list, offers a meal for four people at a cost of $20. That’s $5 cheaper than 2023. This price covers a Good & Gather brand frozen turkey and russet potatoes, Campbell’s Cream of Mushroom Soup, and Ocean Spray Jellied Cranberry Sauce, among other items.
Aldi offers a meal which, according to the company, feeds up to 10 people for under $47. It includes a Butterball Thanksgiving turkey, mac and cheese, pumpkin pie, and other side dishes.
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