Elevated supply costs and inflationary pressures are taking a bigger bite out of consumers’ food budgets. October food prices climbed 3.3% above food prices reported for the same month a year ago.
This chart, published by the American Farm Bureau Federation, shows a steady rise in the cost of Thanksgiving dinner between 2003 and 2019 followed by a sharp 25% increase between 2019 and 2022.
Shoppers are expected to get some cost relief this Thanksgiving: Frozen whole turkey prices are lower thanks to a substantial reduction in avian influenza cases.
Some favorite side dishes, however, will cost more, including sweet potatoes, dinner rolls and pumpkin pie.
