The Cost of Food For Your Thanksgiving Dinner Could Be Astronomical This Year
However, if you typically host Thanksgiving, you’re going to want to start your food shopping ASAP. Why? It may be a bit more expensive this year than in past years.
Last year, Thanksgiving food was actually on the cheaper end—much more inexpensive than it had been in previous years. In fact, in probably the one decent thing the pandemic has done was lower the price of a Thanksgiving dinner for 10 people cost less than $5 per person, according to the American Farm Bureau Federation’s annual survey (a $2.01 decrease from the previous year).
But this year, prices have gone way up. Unfortunately, there are a few reasons for the up-charging, which include labor shortages, transportation costs and supply chain issues.
The U.S. Department of Agriculture recently released its “Turkey Market News Report” (yes that really is a thing), which listed that turkeys between eight and 16 pounds will be about 26 cents more per pound than they were last year. Other foods that are on the rise include russet potatoes, green beans, cranberry sauce and others—all the good stuff!
So what’s the grand total for how much more you can plan to spend this year on the food essentials? About 4-5% more this year compared to last, according to a CBS report.
“Agriculture is like everybody else — it’s impacted by the supply restraints we’ve seen,” said Veronica Nigh, senior economist at the American Farm Bureau Federation. Only about 10% of food costs are related to the actual farming of raw goods, with the remaining 90% involving wages, distribution and other costs, she explained.
There is a silver lining though—stores are probably not going to run out of Thanksgiving food. That means, even if you went last minute, you’ll probably still b able to get what you need (it’s just still going to cost more than usual).
“You might pay more for it than you want, but you will be able to find it,” Nigh said.
Don’t worry, there are still some ways you can save this year. Check out the video below to learn tips on how to be smart about shopping this year, plus more into why the prices are so high.
Do you typically host Thanksgiving dinner? How do you plan to handle the more expensive prices this year?