Economic Tidbits

The Gobbler Costs More

Americans had to dig in their pockets a little deeper to pay for last week’s Thanksgiving dinner compared to last year. American Farm Bureau Federation’s (AFBF) 37th annual survey found the average cost of this year’s Thanksgiving feast for 10 people was $64.05, a $10.74 or 20 percent increase from last year. Nebraskans, though, may have had to dig a little deeper than the average American. A separate analysis by researchers at the Center for Food Demand Analysis and Sustainability at Purdue University show the cost of Thanksgiving dinner in Nebraska is among the highest in the country. The researchers estimate the cost of Thanksgiving dinner in Nebraska for 12 people at $85.01, fourth highest among states. Only Hawaii, Alaska, and Maryland consumers paid more. Consumers in Georgia paid the least at $70.39. The national average was $80.22.

Much of this year’s cost increase is due to the price of turkey. AFBF says the cost of this year’s gobbler is up $1.81 per pound, or 21 percent over last year. A slightly smaller flock due to higher feed costs and avian influenza along with strong demand have pushed turkey prices higher. But the rising price of turkey wasn’t the only Thanksgiving food with a higher sticker price. All typical Thanksgiving food items are higher, with bagged stuffing cubes increasing the most, up 69 percent over last year.

Figure 1. Thanksgiving Dinner Costs

Source: American Farm Bureau Federation

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