Early projections indicate that the cost of a traditional Thanksgiving dinner for ten people is expected to decrease by approximately 2% to 3% in 2025, compared to 2024. This forecast, based on an analysis from Wells Fargo, comes despite the ongoing challenges of food inflation, which has impacted various grocery items over the past year.
According to the analysis, shoppers can anticipate spending about $80 for an all-store-brand Thanksgiving meal and around $95 for a dinner featuring name-brand products. This year’s projected costs take into account essential components such as turkey, stuffing, vegetables, and desserts.
Factors Influencing Price Changes
The consumer price index shows that overall food prices have increased by approximately 2.7% from the previous year. This increase is largely driven by rising costs in items like beef, lunch meat, fish, coffee, and sugar. Nevertheless, certain Thanksgiving staples, particularly turkey, have experienced either modest price increases or reductions. For example, private-label dinner rolls are reported to be around 22% cheaper this year, while turkey, prepared gravy mix, and fresh cranberries have seen declines of about 3% to 4%.
Wells Fargo’s analysis also notes that mixing national and store brands could yield additional savings for consumers. By carefully selecting products, shoppers can enjoy a festive meal without overspending.
Political Commentary on Thanksgiving Costs
Political figures have also weighed in on the cost of Thanksgiving dinners. Recently, former President Donald Trump highlighted Walmart’s annual Thanksgiving meal report, which suggests a meal for ten could cost as little as $4 per person, a decrease from $7 last year. Trump emphasized trust in Walmart’s figures, suggesting they offer an accurate depiction of holiday dining costs.
It is worth noting that Walmart’s 2024 meal components included items like Hawaiian rolls and sweet potatoes, making direct comparisons to previous years somewhat complex. This illustrates the importance of understanding the specific components of meal cost reports when evaluating affordability.
As consumers prepare for the upcoming holiday season, these insights into Thanksgiving dinner pricing may help families budget more effectively, allowing them to enjoy the festive occasion with less financial strain. The projected decrease in costs, coupled with strategies for saving, offers a positive outlook for Thanksgiving celebrations in 2025.