Savings in Store: Thanksgiving will cost consumers a few dollars less in 2023, according to annual AFBF study
If you’ve started shopping for Thanksgiving, we’ve got some good news for you—the cost of food is a little cheaper this year, according to the American Farm Bureau Federation.
Local shoppers in Baton Rouge, Louisiana, are gearing up for Thanksgiving, exploring Calandro’s grocery for local Louisiana products that add flair to the festive table.
Manager Blaise Colandro notes that, since 2019, record-level food prices and inflation have posed challenges for both grocery stores and consumers. Timely pricing adjustments are crucial to navigate these fluctuations.
Inflation Challenges and Grocery Hustle
The latest American Farm Bureau survey brings good news—prices for essential Thanksgiving items have dropped by almost five percent from last year’s highs.
Survey Highlights: Cost Fluctuations
- Turkey: $27.30 for a 16-pound turkey (a 5.6 percent drop)
- Stuffing: $3.77 per box (a three-percent decrease)
- Pie Crust: $3.50 for a pack of two (almost five percent lower)
- Whipping Cream: $1.73 per pint (a substantial drop)
NOTE: Food prices can vary dramatically from region to region. The prices listed above represent national averages.
Varied Price Movements
Some items, like frozen peas and spices, have seen decreases in the last year. However, others, such as dinner rolls and pumpkin pie mix experienced modest increases. Regional variations highlight more economic costs in the South compared to the national average.
The cost of the Thanksgiving meal does not reflect what farmers receive. The average “farm gate value” price is significantly lower than what consumers pay in the grocery store. Despite rising food prices, margins for grocery stores and farmers remain tight.
To learn more about the AFBF’s Thanksgiving MarketBasket Study for 2023, CLICK HERE.