Thanksgiving Dinner Costs Less in 2022: A Look at the Price of Turkey and Other Staples
Thanksgiving is a time for gathering with loved ones, expressing gratitude, and indulging in a delicious feast. However, the cost of hosting a Thanksgiving dinner can often put a strain on the budget. Fortunately, this year brings some good news for those planning to celebrate the holiday. According to a recent analysis by Investopedia, Thanksgiving dinner will cost less in 2022 compared to the previous year.
Investopedia conducted a thorough analysis of data provided by the United States Department of Agriculture (USDA) to determine the cost of Thanksgiving staples. The study revealed that while the overall cost of Thanksgiving dinner has decreased, there are still a few items that have seen a slight increase in price.
Lower Overall Cost
If you were worried about breaking the bank this Thanksgiving, you can breathe a sigh of relief. The analysis shows that the average cost of a traditional Thanksgiving dinner for ten people will be lower this year. This is great news for families who want to enjoy a memorable holiday without stretching their budget too thin.
According to the data, the average cost of a Thanksgiving dinner in 2022 is estimated to be around $48.90. This represents a decrease of approximately 4% compared to the previous year. The lower overall cost can be attributed to several factors, including decreased prices for turkey and other essential ingredients.
One of the most significant contributors to the lower cost of Thanksgiving dinner is the price of turkey. Traditionally, turkey takes center stage on Thanksgiving tables across the country. Thankfully, turkey prices have decreased this year, making it more affordable for families to enjoy this beloved holiday staple.
The analysis reveals that the average cost of a 16-pound turkey is expected to be around $20.80 this year. This represents a decrease of approximately 6% compared to the previous year. The lower turkey prices are a result of increased production and supply, which has helped drive down costs.
Other Thanksgiving Staples
While the overall cost of Thanksgiving dinner has decreased, there are a few items that have seen a slight increase in price. These include cranberries, sweet potatoes, and pumpkin pie mix. However, the price increases for these items are relatively small and should not significantly impact the overall cost of the meal.
Cranberries, a popular accompaniment to turkey, have seen a price increase of around 2% compared to last year. The average cost of a 12-ounce bag of cranberries is estimated to be around $2.50. Similarly, sweet potatoes have seen a modest increase of approximately 3%, with an average cost of $0.70 per pound.
Pumpkin pie mix, a must-have dessert for many Thanksgiving celebrations, has also seen a slight increase in price. The average cost of a 30-ounce can of pumpkin pie mix is estimated to be around $3.20, representing an increase of approximately 4% compared to last year.
As Thanksgiving approaches, it’s reassuring to know that hosting a memorable dinner for your loved ones will be more affordable this year. The analysis conducted by Investopedia shows that the overall cost of Thanksgiving dinner has decreased in 2022 compared to the previous year.
While some items, such as cranberries, sweet potatoes, and pumpkin pie mix, have seen slight price increases, these should not significantly impact the overall cost of the meal. The decrease in turkey prices, which is one of the most significant contributors to the lower cost, allows families to enjoy this holiday staple without breaking the bank.
So, as you gather around the table with your loved ones this Thanksgiving, take a moment to appreciate the fact that you can enjoy a delicious feast without worrying about the financial burden. This year, Thanksgiving dinner costs less, giving you even more reasons to be grateful.