You probably know by now that the cost of pretty much everything has been on the rise. Thanksgiving dinner is no exception. If you are gathering to celebrate with family and friends this year plan to pay more.
The average Thanksgiving dinner for a party of 10 is up 14% this year compared to last according to the Farm Bureau. Expect to pay around $53 to feed your guests. Last year the cost of the same meal was around $46. The turkey will set you back the most, as the cost is up 24% compared to last year. However, several stores were discounting their birds as Thanksgiving approached.
Expect to pay more for the side dished as well. Pie, dinner rolls, cranberries, and potatoes all saw increases in prices from last year.
Factors Causing Inflation
The snarling of the supply chains from the pandemic is the obvious reason for the rising costs of most items. But there are other factors at play.
High demand for meat globally is also contributing to the price pressures. The lockdowns caused many people to cook more at home. This translated to higher demand for many items at the grocery store. With higher demand comes higher prices.
Dealing With Rising Costs
Shoppers who waiting to buy items saw discounts from grocers attempting to entice consumers. There are also several rewards programs available that shoppers can take advantage of. The sides that you choose also can help reduce costs.
Like many things as of late, you will be paying more. You can mitigate costs by looking for sales, taking advantage of rewards points, and by modifying what is on the table. Hopefully your Thanksgiving Dinner will be happy and within your budget. Happy eating!
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Writer and Investor. Based in the Pittsburgh, PA area, Brian holds full-time employment as a Warehouse Manager for an electronics firm. Brian enjoys wealth building, investing, gardening and the great outdoors. Brian holds a B.A. in Environmental Studies from the University of Pittsburgh and an MBA from Robert Morris University.