It's time to talk turkey about the cost of this year's potatoes and gravy.

Answer: $58.08, down 5% from last year!
Question:

• Have you noticed any other prices for items leveling out or reducing after the last few years of high inflation?
• Assuming you have $58 to spend, what food items would you add to this list for Thanksgiving dinner?
  • Do online research to make sure you’re not spending more than $58.
• What are you thankful for this Thanksgiving season?
  

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (American Farm Bureau Federation):

"According to our volunteer shoppers, the average cost of a Thanksgiving meal for 10 people is $58.08 or about $5.80 a person. This is about five percent lower than last year, but it's almost 20 percent higher than just five years ago. So, even though we've had two years’ decline in prices, this doesn't erase the dramatic increases that we saw that led to record high prices in 2022.

Most ingredients in the survey saw a decline in prices, including fresh vegetables. The drop in prices reflects price volatility in crops this year. The cost of whole milk dropped more than 14%. Favorable weather contributed to the decline in milk pricing. It is important to note, however, that milk prices vary significantly between regions in the U.S.

Items like dinner rolls and cubed stuffing both saw an 8% increase because higher labor costs, among other drivers, are increasing the cost of processed food. Cranberry prices increased almost 12% year-over-year. In 2023, cranberries had the second largest decrease in price of any products in our basket at 18%. The increase this year puts cranberry prices closer to historic norms and, excluding last year, is the least expensive year since 2015."

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Looking for more Thanksgiving-related resources? Be sure to check out the NGPF PROJECT: Plan a Friendsgiving dinner 

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About the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master's degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.