Happy Thanksgiving! Joe Biden's Inflation Drives Up Dinner Costs by over 20% this Year
Thanksgiving Dinner Costs Rise 20% This Year
By: Martin Armstrong
November 23, 2022: In 2021, the average American family paid at least 14% more for Thanksgiving festivities. In 2022, celebratory costs are estimated to rise by 20%. The US Farm Bureau noted that the average American family paid $46.90 in 2020 for Thanksgiving, which rose to $53.31 in 2021 before soaring to $64.05 in 2022. This is a drastic underrepresentation of costs, as absolutely no one I know can afford to create a Thanksgiving meal for a family with such a small amount of money.
The survey was based on a shopping list of turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray, pumpkin pie with whipped cream, and coffee and milk. If the survey were to include ham, frozen green beans, and Russet potatoes, the cost would rise to $81.30.
Turkey costs alone rose 21% from last year at an additional cost of $1.81 per pound. Every food item costs significantly more down to a gallon of whole milk that now costs 16% more compared to last year. Stuffing mix rose 69% this year at around $3.88. Pumpkin pie canned mix is up 18%, pie crusts rose 26%, and whipped cream is up 26%. Sweet potatoes (11%), veggie trays (8%), and misc. ingredients (20%) all cost notably more. Those on the West coast will pay the most ($71.37), followed by the Midwest ($64.26, Northeast ($64.02), and South ($58.42).
This is simply the cost of the bare essentials to prepare a meal. Most will spend more traveling to their destination due to energy costs. Alcoholic beverages will drastically add to the budget, as will any specialty foods.
Source: Armstrong Economics