Basic Thanksgiving meal costs remain high, but down from 2022

by Kim Souza (ksouza@talkbusiness.net)

Food inflation has been persistent for the past two years but hefty retailer promotions from Aldi, Walmart and other discounters may help consumers stretch their Thanksgiving meal budgets further this year.

Data from Statista shows 81% of Americans plan to have a home-cooked dinner on Thanksgiving Day (Nov. 23). The annual survey from the American Farm Bureau (AFB) includes a basic menu shows the average cost at $6.20 per person. That does not include ham, green beans, pecan or apple pie and mashed potatoes. When adding those items to the menu, the cost rises to $8.50 per person, up 4.2% from a year ago.

The basic AFB menu includes a turkey, stuffing, sweet potatoes, frozen green peas, pumpkin pie, cranberries, milk, spices, whipping cream, carrots and celery and dinner rolls. AFB estimates serving those items to 10 people will cost $61.17, lower than the $64.05 spent last year but higher than the $53.31 in 2021.

Basic Thanksgiving meal costs remain high, but down from 2022