The American Farm Bureau Federation's (AFBF) 2023 Thanksgiving Dinner cost survey has brought some good news for those planning their holiday meals. Senior economist Veronica Nigh notes a welcome change in food prices, with this year's Thanksgiving dinner costing about 5% less than in 2022.
This year, families can expect to spend an average of $61.17 on their Thanksgiving meal, a slight decrease in cost amidst ongoing concerns over inflation. While this represents a reduction from last year, it's still a 25% increase from pre-pandemic levels in 2019.
The survey also highlights significant regional cost variations. The Midwest offers the most budget-friendly Thanksgiving meals at $58.66, while the Northeast ranks as the most expensive at $64.38. These differences reflect the diverse economic landscapes across the United States.
A key factor in the reduced cost of Thanksgiving meals this year is the decline in turkey prices, which have fallen by almost 6% compared to 2022. This decrease is largely due to the successful containment of the high path avian influenza, which had severely impacted turkey populations last year.