Thanksgiving is getting more expensive, including in Utah. Here is what the data says

David DeMille, St. George Spectrum & Daily News
·5 min read
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'Tis the season for giving thanks. It's also the season for big spending.

The average Thanksgiving dinner in Utah will cost more than $100 this year, according to a new state-by-state comparison published by casino.com after its new survey of 2,500 people who said they plan to host dinners this year.

That's a lot more than the estimates published each year that try to look at specific food prices and project how much it could cost to serve a dinner. The American Farm Bureau Federation, which publishes estimates each year based on the going rates for popular holiday foods like turkey, cranberries and potatoes, suggests the typical turkey dinner to feed 10 people would cost $61.17 on average this year, down more than 4% from last year's $64.05.

A large part of the dropoff was attributed to a decline in prices for turkey, the centerpiece of most Thanksgiving meals, which was down 5.6% per pound this year.

Still, the prices are still much higher than in years past, and that $61 figure for this year is 25% higher than it was in 2019, illustrating just how different prices are now compared to before the COVID-19 pandemic and its impacts on supply costs and inflation.

"While shoppers will see a slight improvement in the cost of a Thanksgiving dinner, high inflation continues to hammer families across the country, including the nation’s farmers," said Zippy Duvall, the Farm Bureau president. "Growing the food families rely on is a constant challenge for farmers because of high fuel, seed, fertilizer and transportation costs, just to name a few."

That might also explain why the casino.com survey of people who said they actually plan to host came out much higher. Utah's estimated average of $104 was actually much lower than many states and was lower than the national average of $107.01.

According to Wells Fargo Consumer Thanksgiving report, "There are record price spreads between the wholesale price supermarkets pay versus the retail prices consumers pay – and the difference is impacting some of the most popular holiday dishes, including turkey and ham."

Costs of Thanksgiving: Is it cheaper to go to a restaurant for Thanksgiving dinner? Maybe not this year.

Why are Thanksgiving ingredients pricier?

Labor and food production costs contribute to the increasing cost of produce this year, and food production costs are estimated to increase by 4.1%.

"While inflation is not as extreme as last year, it is still present and grocery store prices have still been somewhat variable," Bernt Nelson, an economist at the American Farm Bureau Federation, told USA TODAY in an email.

Wildfires and droughts caused by extreme weather patterns impact crops ability to grow, which is driving up prices.

But grocery stores may be offering consumer more discounts to help lessen the financial impact of rising prices of ingredients.

According to the report, “With most food manufacturers operating at full speed based on employment growth and automation, there will be intense pressure on retailers to pass along savings to consumers in the bid for consumer shopping dollars."

How expensive are Thanksgiving side dishes this year?

Although turkey prices are decreasing, side dishes are not following similar trends. Thanksgiving side dishes are expected to be 4% more expensive in 2023 compared to last year.

This is particularly true in the Seattle, Washington metro area where, purchasing two store-bought pumpkin pies will cost around $21, according to MoneyGeek.

Want a cheap Thanksgiving dinner? These ideas could save you money

While inflation has been cooling recently, families are still seeking relief from growth in costs over the past three years.

Here are some ideas to save money this Thanksgiving:

Right size your feast

Close up of Thanksgiving turkey during family dinner at dining table.
Close up of Thanksgiving turkey during family dinner at dining table.

While the gut-busting meal is the center of the holiday, reducing the excess buying is an opportunity to shave money from the grocery bill.

While food waste is commonly thought of as an ecological problem, there are financial costs as well.

Approximately 200 million pounds of turkey is thrown away each year, according to the National Resources Defense Council. If the same amount is thrown away this year that will translate to over $274 million dollars heading to a landfill.

By reducing the size of the centerpiece bird by two pounds, the average meal cost drops $2.74 cents.

The same principle applies to side dishes and desserts. In the Los Angeles area, a package of Marie Callender's 10-ounce apple pies is $2 less than the sale price of the same company's 38-ounce Dutch apple pie at Safeway.

This is not to say that there shouldn't be leftovers from a Thanksgiving dinner but understanding how much a family will actually eat can save money from going into the trash.

This year, choose fresh over canned

This year has seen the costs of canned produce rise, making fresh produce options an attractive and healthy alternative.

The 2023 Wells Fargo Thanksgiving report found that fresh green beans have remained, "inflation resilient," while the cost of the canned option has risen 9%.

The same report found that while the cost of canned cranberries are up 60%, fresh cranberries will cost 20% less.

Rolling back hours: Walmart will close its doors on Thanksgiving Day for fourth consecutive year, CEO says

Time your purchase

If you have the flexibility to wait until the final days before the holiday, there may be last minute deals to be had.

“Historically we see a big drop in the two weeks before Thanksgiving,” Michael Swanson, chief agriculture economist with Wells Fargo Agri-Food Institute, said about turkeys to CNN.

As soon-to-be cooks make their selections and demand shrinks, retailers should offer better prices to chase the remaining holiday spending.

When discussing sweet potatoes Swanson said, "the price is expected to come down before Thanksgiving as grocers become much more competitive with each other for consumers’ dollars."

Potlucks level the cost

While the picture of a brood gathering at the ancestral home being served by a host family is the ideal of Thanksgiving, one of the best ways to defray costs is to open up the menu to all.

Potluck style gatherings allow for a wide range of dishes while allowing the host to focus on the star of the show and the presentation.

Spreading out the costs across multiple guests also keeps the host's budget in check.

Contributing: USA TODAY.

Other stories to read over the holiday week

This article originally appeared on St. George Spectrum & Daily News: Thanksgiving is getting more expensive, especially in Utah