Thanksgiving dinner 2023: Breaking down the cost of the average holiday feast

Thanksgiving dinner will cost less this year, but prices are still up

The American Farm Bureau Federation released its 38th annual survey and revealed the average Thanksgiving dinner will cost 4.5% less than last year's record high average.

The cost of an average Thanksgiving dinner in 2023 will be less than it was last year, according to The American Farm Bureau Federation’s 38th annual survey.

Americans can expect to spend an average of $61.17 on a feast for 10 people, which is about $6 per person.

This year’s Thanksgiving dinner average cost is $2.88 cheaper than last year's record-high average of $64.05.

Though the decrease is encouraging, the average Thanksgiving meal is high compared to what they were pre-COVID-19 pandemic.

The biggest role player in this year's decrease is the centerpiece of the meal – the turkey. A 16-pound turkey currently costs $27.35 on average, down approximately 5.6% from 2022.

FILE - Traditional Thanksgiving dinner. (H. Armstrong Roberts/ClassicStock/Getty Images)

"About 45% of the cost of the total dinner is related to the cost of turkey. So, as goes turkey, as goes the dinner," AFBF Senior Economist Veronica Nigh told FOX TV Stations.

Whole frozen turkeys may become even more affordable leading up to the Thanksgiving holiday, as the survey was conducted from Nov. 1 through Nov. 6 and USDA Agricultural Marketing Service data has reported lower costs since then.

After the turkey, the remaining sides in the data included stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray, and pumpkin pie with whipped cream. All categories were priced to feed a group of 10 with a little extra for leftovers.

Here is a breakdown of what your Thanksgiving grocery basket will cost this year:

Stuffing

14-ounces of cubed stuffing mix: $3.77 (down 2.8%)

Pie crust

2 frozen pie crusts: $3.50 (down 4.9%)

Whipped cream

Half pint of whipping cream: $1.73 (down 22.8%)

Peas (frozen)

1 pound of frozen peas: $1.88 (down 1.1%)

Dinner rolls

1 dozen dinner rolls: $3.84 (up 2.9%)

Pumpkin pie mix

30-ounce can of pumpkin pie mix: $4.44 (up 3.7%)

Milk

1 gallon of whole milk: $3.74 (down 2.6%)

Sweet potatoes

3 pounds of sweet potatoes: $3.97 (up .3%)

Vegetables

1-pound veggie tray (carrots & celery): $.90 (up 2.3%)

Cranberries

12-ounce bag of fresh cranberries: $2.10 (down 18.3%)

FILE - A meal to linger over will be the theme for Thursday s Thanksgiving dinner to be shot on location in West Adams area. (Kirk Mckoy/Los Angeles Times via Getty Images)

Average cost of Thanksgiving dinner over the years

Data collected by the AFBF showed the average cost of a classic Thanksgiving dinner in 1986 was about $28.74.

That average decreased slightly in 1987 to $24.51, a stark contrast to the average $61.17 this year.

The largest jump in price was between 2021 and 2022, according to AFBF, when the average cost rose from $53.31 to $64.05.

The 2023 survey was calculated using 245 surveys with pricing data from all 50 states and Puerto Rico. Volunteers shopped in person and online to find the best prices without using coupons or other promotional deals, the AFBF said.

The Farm Bureau's Thanksgiving dinner survey was first conducted in 1986, and the menu has remained the same to keep price comparisons consistent.

FOX Business contributed to this report. This story was reported from Los Angeles.

Food and Drink Holidays