The American Farm Bureau Federation’s annual survey found that the average cost of a Turkey Day dinner for 10 is the lowest it’s been in 10 years. For 10 people, a Thanksgiving meal will cost around $46.90, a $2 decrease from last year’s average, which was $48.91. That’s a record low. According to Dr. John Newton, the Chief Economist for the Farm Bureau, “The average cost of this year’s Thanksgiving dinner is the lowest since 2010.” Some traditional foods, including turkey, will be sold at a lower price this year to encourage shoppers to purchase more. That could mean more tasty treats to gobble up. Newton explains, “Pricing whole turkeys as ‘loss leaders’ to entice shoppers and move product is a strategy we’re seeing retailers use that’s increasingly common the closer we get to the holiday.” Several hot-to-trot items might do less damage to your wallet in 2020. The average turkey, for example, will cost $19.39 this year, down from $20.80 last year, whipping cream is cheaper by an average of 34 cents and russet potatoes are down by an average of 19 cents. A few notable items have become slightly more expensive this year, including rolls, which now cost $2.66 on average, up from last year’s $2.50. The good news is that Thanksgiving staple foods are generally well-stocked at the moment, but this could potentially change if families panic-buy due to COVID-19. So, whatever your plans are for the holiday, you can probably feel good knowing that Thanksgiving will go a little easier on the wallets this year.
