As food prices continue to creep up, the thought of buying everything you’ll need for your Thanksgiving Day meal may be daunting.
But exactly how much will your Thanksgiving dinner cost you in 2024? Experts say it should hurt your pocketbook a little less.
“The good news is that consumers will feel some relief this year for their annual Thanksgiving dinner,” Uric Dufrene, the Sanders Chair in Business at Indiana University Southeast, told The Courier Journal.
According to the Bureau of Labor Statistics, total food prices are up 2.3% compared to last year with “food at home” only being up about 1%, per the most recent consumer price index report released on Oct. 10.
“Five of the six major grocery store food group indexes increased over the month,” the report stated, specifically noting the increase in meats, poultry, fish, eggs, and fruits and vegetables all saw a pricing increase.
Dufrene said consumers opting for the traditional turkey as the feast centerpiece are likely to see more cost relief than consumers who buy other proteins.
“The price of turkey is down compared to last year, down around 2%,” Dufrene said. “In fact, households will find better bargains with turkey this year compared to other meats and poultry. Meats and poultry are up almost 4% compared to last year.”
While Dufrene notes several traditional Thanksgiving Day food items such as turkey, potatoes and bread for stuffing have seen noticeable drops in price since last year, he warns that for those who love a deviled egg appetizer, egg prices are up nearly 40% compared to last year.
For those looking to save a little extra, Dufrene notes frozen fruits and vegetables are down more than 2% since last year.
“Prices have cooled since last year, and in some categories, prices are actually lower. But consumers will still feel the impact of higher food prices overall,” Dufrene said, noting that food at home costs are 26% higher than in 2019. “Households do have higher income to support higher prices but will often think about what they may have paid a few years ago, compared to the present.”
In recent years, 2022 remains the most expensive Thanksgiving for shoppers with the average dinner for 10 coming in at $64.05, according to the American Farm Bureau Federation. Last year, consumers fared slightly better with the national average cost for a dinner for 10 costing $61.17. The American Farm Bureau Federation is expected to release its 2024 cost calculations later this month.
Cost-conscious consumers are a focus for major grocery chains like Kroger and Walmart. This year, Walmart is offering an “inflation free” pre-packaged Thanksgiving dinner basket that comes out to $12.43 per serving when ordering a meal for a family of four, and for larger gatherings feeding up to 24, each serving of the meal bundle costs only $4.30. The meal deal is available until Dec. 24 and includes 29 items to make an entire feast including turkey, trimmings, and dessert.
“Saving money is a top priority for our customers right now, and we made investments on top of our everyday low prices to offer a popular Thanksgiving meal priced lower than last year,” a Walmart spokesperson told the Courier Journal via email. “We’ve also been working with our suppliers and making significant investments to help offset costs for our customers and keep prices low.”
Kroger deli departments are also offering pre-packed meals with a range of prices and food items to best meet shoppers’ needs, said Jessica Sharp, a corporate affairs manager for the Louisville division of Kroger.
Kroger’s holiday meals range from $75-170 to feed the family and offer dishes including ham, turkey, prime rib, cornbread stuffing, green bean casserole, mashed potatoes, and more. The Thanksgiving feast at Kroger includes a Butterball turkey, boneless ham, stuffing, green bean casserole, maple pecan mashed sweet potatoes, cranberry sauce, mashed potatoes, and gravy. It serves eight to 10 and costs $170.
“Kroger is a destination for fresh, affordable food with zero compromise on value, quality, or convenience,” Sharp said, noting the various membership savings programs Kroger offers. ” … Kroger is a one-stop shop for everything needed on our customers’ wish list for the season. We’re in stock with traditional favorites, Kentucky Proud products to support local foodie entrepreneurs and new and exciting flavors to try.”
How much will your Thanksgiving dinner cost in 2024?
To help shoppers get a handle on their holiday meal, we went shopping at three local grocery stores — Kroger, Publix, and Walmart — to see how much a Thanksgiving meal might cost this year for a family of four.
We priced the same 10 items at each store, which included items to make a turkey, plus gravy, cranberry sauce, mashed potatoes, green bean casserole, stuffing, rolls, and a pumpkin pie for dessert. We did not factor in pantry staples, like milk, butter, spices, etc., that might be needed for individual recipes as most homes will have these items on hand.
Additionally, sales tax was not factored in. Store-brand items were selected when possible. If none were available, we picked the lowest-priced item on the shelf. We shopped in person at all three stores — Kroger, 1265 Goss Ave., Publix, 2500 Terra Crossing Blvd., and Walmart, 175 Outer Loop — on Nov. 4. Prices are subject to change as stores often hold sales on holiday items leading up to Thanksgiving, which falls on Nov. 28 this year.
Here’s how the local stores stacked up:
1265 Goss Ave., kroger.com
- Turkey (frozen whole): $23.61 for 12.49 pounds
- Gravy packet: $0.99
- Cranberry sauce (per can): $1.99
- 5-pound bag of russet potatoes: $3.29
- *Green beans (per can): $0.89
- Cream of mushroom soup: $1.25
- Fried onions (6 ounces): $2.50
- Stuffing mix (cornbread): $1.29
- Dinner rolls (bakery fresh): $2.49 for seven rolls
- Pumpkin pie: $5.99
TOTAL: $45.18
2500 Terra Crossing Blvd., publix.com
- Turkey (frozen whole): $29.66 for 11.45 pounds
- Gravy packet: $0.89
- Cranberry sauce (per can): $2.39
- 5-pound bag of russet potatoes: $3.99
- *Green beans (per can): $1.19
- Cream of mushroom soup: $0.96
- Fried onions (6 ounces): $3.39
- Stuffing mix (cornbread): $2.87
- Dinner rolls (bakery fresh): $4.89 for eight rolls
- Pumpkin pie: $7.99
TOTAL: $59.41
175 Outer Loop, walmart.com
- Turkey (frozen whole): $12.01 for 11.55 pounds
- Gravy packet: $0.67
- Cranberry sauce (per can): $1.66
- 5-pound bag of russet potatoes: $2.78
- *Green beans (per can): $0.50
- Cream of mushroom soup: $0.68
- Fried onions (6 ounces): $2.94
- Stuffing mix (cornbread): $0.97
- Dinner rolls (bakery fresh): $3.97 for 12 rolls
- Pumpkin pie: $6.28
TOTAL: $32.96
*Two cans are typically needed per recipe
Contact business reporter Olivia Evans at oevans@courier-journal.com or on X, formerly known as Twitter at @oliviamevans_.