Thanksgiving Dinner Costs In 2021 To Be The Highest In History
Get ready to hold your wallet.
Thanksgiving Dinner cost for a Family of 10 in 2020 was an average total of $46.90. An all-time record low.
This year, Thanksgiving dinner will be the most expensive on record, with every ingredient, from stuffing to all other fixings costing much more than ever before.
The cost for a Turkey alone in 2021 will be $100 or more.
Here’s the harsh reality. Farmer Jake Stevens of Fire Creek Farms in Livonia, New York, tells The New York Post the turkeys he is selling to customers for their Thanksgiving dinners cost upwards of $100. Fire Creek Farms has had no choice but to increase its price per pound for this year's turkeys by $6 -- a 20% hike.
The culprit this year is a broken supply chain, coupled with record inflation that is driving up food costs. In a recent FinanceBuzz survey there may be smaller Thanksgiving gatherings this year.
According to a survey, 63% of Americans say the rising cost of food will "impact" their plans for the annual holiday dinner.
According to data from the United States Department of Agriculture, prices for food prepared at home rose 1.1% from August to September and are up 4.5% compared to the same time last year.
The increase in consumer food prices is the highest it has been since 2011 when the annual increase was 4.8%, according to the agency.
The food prices we’re currently paying sure seems a lot higher than this.
What a difference a year can make.
Each year, The American Farm Bureau estimates the cost of Thanksgiving dinner. In 2020, Thanksgiving dinner was the cheapest it's been since the survey started 35 years ago.
This year it will be the most expensive ever.
Regardless, we wish you and yours a very Happy Thanksgiving.
SOURCES: United States Department of Agriculture, New York Post & FinanceBuzz.
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