Thanksgiving dinner will cost less this year, analysts say
Your Thanksgiving turkey and some side dishes are expected to be a bit cheaper this year thanks to cooling inflation.
According to numbers provided by Datasembly, a data collection company, this year’s Thanksgiving dinner will cost $50.58 on average, about $3 less than it cost in 2023, but roughly $10 more than it did in 2019.
A recent Wells Fargo consumer report predicts a 16% drop in turkey prices from last year, but the savings may not be as significant for shoppers because retailers aren’t fully passing on the wholesale price cuts.
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The report found that while wholesale prices are down a whopping 29%, supermarkets are keeping more of that gap to pad their margins. Analysts say retailers know you’ll still flock to buy that bird in November, and prices will likely dip more in the days leading up to the big feast.
Here’s what Datasembly says these 10 typical Thanksgiving staples will cost in 2024, and how those prices have changed since 2019.
Traditional Thanksgiving dinner (Photo by John Moore/Getty Images)
What will Thanksgiving cost in 2024?
- 10-pound frozen young turkey: $10.40 (down from $12.80 in 2023 and $14.80 in 2019)
- Frozen turkey breast: $13.44 (down from $14.00 in 2023 and up from $10.64 in 2019)
- Unsalted butter: $9.99 (up from $9.04 in 2023 and $7.29 in 2019)
- Stuffing: $3.38 (down from $3.52 in 2023 and up from $1.98 in 2019)
- Buttermilk biscuits: $3.37 (down from $3,69 in 2023 and up from $1.90 in 2019)
- 12-ounce jar of homestyle gravy: $3.09 (up from $2.99 in 2023 and up from $1.89 in 2019)
- Cranberry sauce: $2.54 (down from $2.55 in 2023 and up from $1.68 in 2019)
- Can of green beans: $1.78 (down from $2.14 in 2023 and up from $1.17 in 2019)
- Can of sweet corn: $1.54 (up from $1.49 in 2023 and up from $1.29 in 2019)
- Russet potato: 85 cents a pound (down from $1.18 in 2023 and up from 78 cents in 2019)