The Holiday Feast Costs Significantly More Than Last Year

68% of American households are adjusting their Thanksgiving dinner plans due to rising costs — here's how much you should plan to spend this year

By Sigrid Forberg   Nov. 18, 2022

Even with temperatures dropping across the country, inflation remains scorching hot.

And with food prices currently serving as a major driver of the country’s record-high inflation rate, families already struggling to keep costs down at the grocery store might be worrying what the damage will be when it comes time to shop for Thanksgiving dinner.  Making a meal for the whole family — and whoever else ends up at your table — can be stressful. But knowing what you’re in for might help.

A holiday dinner for 10 will cost an average of $64.05 or just under $6.50 per person, according to the 37th annual Thanksgiving prices survey from the American Farm Bureau Federation (AFBF). The AFBF comes up with this price tag based on the average costs of a dozen classic items found at the big feast.

This year's overall cost is a 20% increase from last year’s survey, when the meal was expected to cost an average $53.31. Here’s how much the prices have changed in 2022 for each part of your holiday meal.

1. The turkey   2022 price: $28.96

The centerpiece of the typical Thanksgiving dinner — a 16-pound turkey — costs about $5 more than last year, when the average price was $23.99.

While inflation is partly to blame for this price change, there are other factors driving up prices.

“The higher retail turkey cost at the grocery store can also be attributed to a slightly smaller flock this year, increased feed costs and lighter processing weights,” says AFBF Chief Economist Roger Cryan.

And while Cryan expects there will be an adequate supply of turkeys this year, some states that dealt with avian influenza earlier this year may deal with shortages.

2. Pumpkin pie mix   2022 price: $4.28

What would Thanksgiving be without a gourd-geous pumpkin pie on the table? A 20-oz can of pumpkin pie filling will cost you about 64 cents more this year, compared to $3.64 in 2021.

A 2020 YouGov survey shows that pumpkin pie is the most popular sweet pastry after the Thanksgiving meal, followed by pecan pie.

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