Here’s one reason to be thankful this year: the cost of your holiday feast.
Despite a small increase in prices, the average cost of a Thanksgiving dinner for 10 people remains less than $50 this year, according to the American Farm Bureau Federation.
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Its new survey found that a 16-pound turkey costs an average of $21.65 this year, about the same price as last year.
“Turkey production has been somewhat lower this year and wholesale prices are a little higher, but consumers should find an adequate supply of birds at their local grocery store,” AFBD’s deputy chief economist John Anderson said in a statement.
The survey showed that ingredients with the largest cost increase this year included sweet potatoes ($3.56 for three pounds), dairy products ($3.76 for a gallon of milk), and pumpkin pie mix ($3.12).
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The average cost of the entire Thanksgiving dinner has remained about $49 since 2011.
The prices used for the AFBF survey did not reflect special promotional coupons or purchase deals. Consumers can likely get even better prices for birds by shopping around for deals. Wal-Mart claims that buying the same items at its stores would cost less than $33.
A report by IHS Global Insights found that grocery stores are significantly discounting frozen turkeys in an attempt to get shoppers to spend more on the rest of their Thanksgiving fixings. That survey found whole turkey prices to be about 7.5 percent lower than last year’s prices.
source: IHS
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