As the Thanksgiving season rolls around, many Americans find their holiday celebrations come with a higher price tag. A recent report by LendingTree highlights that people hosting Thanksgiving this year are expected to spend 19% more on food, drinks, and treats compared to last year. This jump reflects the continuing difficulty of inflation, which continues to be prevalent in all domestic budgets.
Interestingly, while inflation increases all hosting costs, the American Farm Bureau Federation’s annual survey reveals that the cost of Thanksgiving dinner for ten has actually decreased slightly. At an average of $58.08, it’s down 5.05% from last year’s $61.17, largely due to lower turkey prices—a 16-pound bird now averages $25.67, down 6.0% from 2023. Despite these savings, food prices remain much higher than before the pandemic. standards, emphasizing the lasting effects of supply chain disruptions and inflation.
While the cost of some traditional dishes has fallen—such as frozen pie crust and whipped cream—others, such as dinner rolls and sweet potatoes, have grown slightly. Hosts also spend a lot of money on holiday-related decorations and drinks to enhance the festive atmosphere.
As Americans navigate these financial pressures, many are turning to thrifting and shopping ahead to cut costs, ensuring that this beloved holiday remains a time for connection and gratitude despite economic challenges.
Editors’ note: This story is created with the help of Artificial Intelligence.
Image source: 123rf.com.
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