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The average turkey dinner will cost $49.04, or 44 cents less this year than it did in 2012, according to the annual informal survey of consumer grocery prices performed by the American Farm Bureau Federation.
“This year we can be thankful that Thanksgiving Dinner, a special meal many of us look forward to all year, will not take a bigger bite out of our wallets,” said John Anderson, AFBF’s deputy chief economist. “Most Americans will pay about the same as last year at the grocery store for a turkey and all the trimmings. Slightly higher turkey production for much of the year coupled with an increase in birds in cold storage may be responsible for the moderate price decrease our shoppers reported.”
If you’re looking for a silver lining, it’s that food costs have remained fairly stable after price increases during the recession. In 2011, the cost of Thanksgiving dinner jumped $5.73 from $43.47 in 2010
Stable commodity and fuel prices are the reason for the slight drop in prices. The USDA’s Economic Research Service said overall, grocery prices are down about one-tenth of a percent since January.
Here’s the Thanksgiving Dinner for 10 price breakdown: