How Economic Shifts Are Shaping Thanksgiving Dinner Costs This Year

The price of Thanksgiving dinner in 2024 has sparred a debate over economic trends and policy decisions under the Biden-Harris administration, leaving Americans to weigh changes in affordability against the realities of inflation and price spikes.

At a Glance

  • Supporters claim Thanksgiving 2024 is 5% cheaper than 2023, yet prices remain 19% higher than 2019.
  • American Farm Bureau notes that, while some costs fell, others rose dramatically since 2020.
  • Inflation concerns persist, impacting voter sentiment and economic satisfaction under current leadership.
  • Thanksgiving dinner costs for a decade-increased by 19% under the Biden-Harris administration compared to previous years.

Current Cost of Thanksgiving Dinner

Data for Thanksgiving 2024 suggest a 5% drop in costs from the prior year, leading some proponents to claim this year’s feast is the cheapest since 2021. A survey by the American Farm Bureau Federation places the average dinner for ten at $58.08. Yet, the reality remains that total costs are still 19% above those seen in 2019. Regional disparities paint a more complex picture, with the Western U.S. averaging costs as high as $67.05.

Despite a reported dip in turkey prices due to reduced demand, itemized increases continue to challenge affordability. General price surges for staples have markedly shifted, prompting many families to alter holiday plans in response to financial pressures.

Economic Policies Affecting Pricing

Thanksgiving dinner costs have escalated by 19% since 2020, reflecting the broader inflationary trends that have dogged the Biden-Harris administration. Treasury Secretary Janet Yellen acknowledged the enduring impact of inflation, stating families should not expect pre-crisis price levels. Product-specific increases since October 2020 underline these challenges, with turkeys up 23% and key accompaniments like gravies and rolls marking a steep climb.

Biden administration policy approaches reveal dissatisfaction among voters, with recent elections highlighting economic issues as a chief concern. Newly elected President Trump’s success signals discontent with current leadership handling, as many attribute economic missteps to the Biden-Harris policy initiatives.

Perspective on Food Security and Future Outlook

The American Farm Bureau finds that despite food cost relief, critical dialogues persist over the dinner table regarding expenses. “While consumers are getting some much-needed relief after years of elevated retail prices, these grocery bills also reflect some hard conversations around the dinner table for farm and ranch families,” the Farm Bureau said in a statement.

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