Few things are as important to American families as the cost of Thanksgiving dinner. It is undoubtedly the most important holiday in the country, when millions of people travel to share a meal with their loved ones. This year’s celebration is marked by the rising cost of living, which has led the White House to take extraordinary measures to try to lower the price of food. Thanksgiving dinner will cost 5% less this year, according to the American Farm Bureau Federation (AFBF), a farm insurance company that has been compiling statistics for 40 years.
“Although this is the third consecutive annual decline, consumers have not fully recovered from the sharp increases that pushed the classic dinner to a record high in 2022,” says Faith Parum, an economist who prepared the report for the agricultural organization.
Parum estimates that this year’s traditional Thanksgiving dinner for 10 people, which includes 12 ingredients such as turkey, green beans, cranberry sauce, rolls, sweet potatoes and pumpkin pie, among others, will cost about $55.18, or $5.52 per person. This is the cheapest Thanksgiving dinner since 2021, just before the inflationary crisis triggered by Russia’s invasion of Ukraine. That year, American families could prepare a traditional dinner for $53.31.
“Despite modest decreases in the cost of the Thanksgiving meal, I know that food prices are a real concern for many families, even in rural America,” said Zippy Duvall, president of the AFBF.
There are other estimates regarding the cost of a Thanksgiving meal. Wells Fargo’s estimate shows a decline of between 2% and 3%, depending on the buyer’s strategy, according to Michael Swanson, the financial institution’s chief agricultural economist. It is estimated that families will pay between $80 and $95 depending on whether they buy store-brand products from supermarkets. “It is fascinating to explore this difference and why it occurs. The key to increasing the grocery basket is primarily proteins, especially beef and eggs, which are not usually included in Thanksgiving dinner. Without these products, consumers will find comfort in a traditional meal,” he adds.
A political advantage
Politics has cast a shadow over this year’s Thanksgiving dinner due to the cost of living. The affordability debate has spread across the United States following New York’s mayoral election a month ago, which Zohran Mamdani won. The Social Democrat has made the cost of living the centerpiece of his campaign, promising to freeze rents on rent-controlled housing and make schools and grocery stores accessible.
The White House has devised measures to try to regain the initiative. Trump announced tariff reductions on products such as coffee, beef and various fruits and vegetables in order to lower the cost of groceries for Americans. He also promised, without providing many details, a $2,000 check per family and even threatened meatpacking companies with a federal investigation into their prices.
“According to Walmart, the 2025 Thanksgiving dinner under Trump is 25% less than the 2024 Thanksgiving dinner under Biden,” Trump said a few days ago. However, economists pointed out that this year Walmart’s Thanksgiving basket contained fewer and lower-quality products than in previous years.
In any case, dinner will not be the biggest expense for American families this Thursday. “This Thanksgiving will cost the average American nearly $1,000,” a new study from Talker Research reveals. The most expensive item will be travel ($293), followed by gifts ($291) and food ($175).
More expensive side dishes; cheapest turkey
Turkey is the most expensive dish at Thanksgiving dinner. This year, a 15-pound turkey will account for 39 percent of the total meal cost, according to a study by the American Farm Bureau Federation (AFBF). This is the lowest portion of the meal since 2000. The average of the last 25 years is equal to 43% of the total cost. Families have reduced turkey consumption in their regular diet and mostly reserve it for this holiday. Declining demand in recent years has made this dish cheaper. Americans consume just 13 pounds of turkey a year, nearly three pounds less than six years ago. A 15-pound turkey will cost an average of $21.50, 16% less than in 2024. In contrast, vegetables and other side dishes have become more expensive, which explains why the cost of the turkey represents a smaller portion of the Thanksgiving meal.
The agricultural organization estimates that four items that make up Thanksgiving dinner have dropped in price this year: turkey, stuffing, fresh cranberries and rolls. However, five ingredients – sweet potatoes, frozen peas, a vegetable tray with carrots and celery, whole milk and whipped cream – became more expensive. The price of shortcrust pastry for the traditional pumpkin pie and tarts has remained practically unchanged compared to last year.
Faith Parum explains that the AFBF added some new items to Thanksgiving dinner in 2018, such as ham, russet potatoes and frozen green beans. The inclusion of these new ingredients brings the price of the meal to $77.09, or the equivalent of $7.71 per person. “The updated Thanksgiving dinner is virtually unchanged from last year (just 28 cents less than in 2024) due to the increase in three additional ingredients,” Parum says.
The origin of the celebration
Thanksgiving Day commemorates a supposed celebration by the early Pilgrims to thank the friendly Native Americans who helped them survive their first harsh winter on those lands. The history taught in schools tells that in 1620, the Mayflower he arrived from England in Plymouth, Massachusetts, with a hundred pilgrims. The narrative holds that a Native American leader helped the settlers cultivate the land and endure the harsh continental winter, even though the harsh conditions caused the deaths of half the settlers. According to the historical account, the following year the survivors organized a three-day celebration to which they invited some Native Americans. The last Thursday of November is considered Thanksgiving Day.
However, Native communities observe National Mourning Day, an annual celebration that aims to reclaim the true history of Native Americans and dispel myths surrounding the history of Thanksgiving in the United States, as well as raise awareness of the struggles faced by Native American tribes.
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