It's not just turkey that will spend more this Thanksgiving.

According to the annual Thanksgiving dinner cost survey of the United States Agricultural Bureau, due to inflation and supply chain disruption, almost all ingredients in holiday meals are more expensive.

The Federation’s survey shows that the average cost of this year’s classic Thanksgiving meal is $53.31, which is more than $5 per capita. This is the most expensive meal in the survey in 36 years, up 14% from the $46.90 in 2020. 

Last year’s meals were the cheapest in more than a decade, because during the coronavirus pandemic, families skipped large gatherings and chose small meals. But prices have also increased by 9% from the more normal holiday meal prices in 2019. 

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The survey’s shopping list has not changed since 1986 and is considered a record of comparing holiday meal costs over the years. The products on the list include turkey, fillings, sweet potatoes, butter rolls, peas, cranberries, vegetable trays, pumpkin pie and whipped cream toppings.

Among the 12 items on the list, only one (14-ounce cubic filling) has decreased, which is 52 cents lower than the price of $2.81 in 2020.

The federation’s survey shows that for families that add ham, russet potatoes, and frozen green beans to the expanded holiday menu, the cost this year has increased by US$15.41 to US$68.72.

The US Bureau of Labor Statistics reported on November 10 that inflation is at a 31-year high and domestic food prices have risen by 5.4% in the past 12 months. The latest consumer price index shows that the price of meat, poultry, fish and eggs has risen by 11.9%.

Michael Swanson, chief agricultural economist at Wells Fargo Bank, said there are multiple reasons for food prices, including supply chain disruptions, rising packaging and transportation costs, and worker shortages.

If you eat out on Thanksgiving, you cannot avoid price increases. "Restaurant inflation is also at a high level for decades," Swanson told USA Today.

Curt Covington, senior director of institutional credit at AgAmerica, told USA Today that he believes that no part of the Thanksgiving meal can be spared from higher food costs.

"Compared with last fall, our spending on food has increased by about 5%. Although this is not as extreme as the housing or transportation inflation rate we have seen, it still means that you will have extra money in your pocket," Covington said.

The following is a breakdown of the cost of the main ingredients for this meal this year:

16 pounds of turkey: US$23.99 or approximately US$1.50 per pound (up 24%)

The Farm Bureau said its volunteer shoppers checked prices between October 26 and November 8, about two weeks before most grocery chains started selling whole frozen turkeys at lower prices. According to data from the Agricultural Marketing Service of the United States Department of Agriculture, the price of turkey advertising this year is later than in previous years. 

Wells Fargo's food and agribusiness industry consultant Kevin Bergquist told USA Today that despite the price increase this year, turkey is still relatively cheap compared to other meat prices.

The latest consumer price index showed that beef prices rose by 20.1% year-on-year, and pork prices rose by 14.1%, the largest 12-month increase since December 1990.

►Shopping tip: Although many consumers are worried about the shortage of turkey and start shopping early, if you have not bought a turkey, you should be able to find one at a price lower than the average price of the farm bureau.

12-ounce bag of fresh cranberries: $2.98 (up 11%)

According to a recent report from the U.S. Department of Agriculture, shoppers at the Farm Bureau found that the price of cranberries was much higher. According to the US Department of Agriculture, the average weekly price of fresh cranberries was US$2.21, compared with US$2.08 last year, a difference of 6.3%.

Canned cranberries are also more expensive. Datasembly, a real-time product pricing service company, told USA Today that a 14-ounce can of Ocean Spray Jellied Cranberry Sauce sold for $1.88 in October, compared with $1.62 in October last year.

Three pounds of sweet potatoes: $3.56 (up 4%)

The USDA also monitors the price per pound, and according to recent data, the price per pound has risen by 6 cents or nearly 8%. The average weekly price of a pound is 82 cents, compared with 76 cents in 2020.

According to recent data from the U.S. Department of Agriculture, the federal annual growth rate is even higher. The average weekly price of big bags of potatoes is US$2.40, which is a difference of 17 cents or 7.6% from last year’s US$2.23.

Source: U.S. Agricultural Bureau; Data Set

Contribution: Javier Zarracina contributed to this report

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