Thanksgiving Dinner Costs Rise 20% This Year


Armstrong Economics Blog/Inflation Re-Posted Nov 23, 2022 by Martin Armstrong

In 2021, the average American family paid at least 14% more for Thanksgiving festivities. In 2022, celebratory costs are estimated to rise by 20%. The US Farm Bureau noted that the average American family paid $46.90 in 2020 for Thanksgiving, which rose to $53.31 in 2021 before soaring to $64.05 in 2022. This is a drastic underrepresentation of costs, as absolutely no one I know can afford to create a Thanksgiving meal for a family with such a small amount of money.

The survey was based on a shopping list of turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray, pumpkin pie with whipped cream, and coffee and milk. If the survey were to include ham, frozen green beans, and Russet potatoes, the cost would rise to $81.30.

Turkey costs alone rose 21% from last year at an additional cost of $1.81 per pound. Every food item costs significantly more down to a gallon of whole milk that now costs 16% more compared to last year. Stuffing mix rose 69% this year at around $3.88. Pumpkin pie canned mix is up 18%, pie crusts rose 26%, and whipped cream is up 26%. Sweet potatoes (11%), veggie trays (8%), and misc. ingredients (20%) all cost notably more. Those on the West coast will pay the most ($71.37), followed by the Midwest ($64.26, Northeast ($64.02), and South ($58.42).

This is simply the cost of the bare essentials to prepare a meal. Most will spend more traveling to their destination due to energy costs. Alcoholic beverages will drastically add to the budget, as will any specialty foods. Then American consumers will be bombarded with Black Friday deals the following day, and don’t forget Cyber Monday! Friday also happens to be Native American Heritage Day, and perhaps we will have a day to honor the fallen US as we know it today.

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