Your Thanksgiving dinner may be a little more expensive this year, according to an annual survey by the American Farm Bureau. But the difference isn't likely to break the bank.
The official price the AFB found in its 30th market basket survey was $50.11. That's a 70 cent increase over last year, but largely in line with survey results going back to 2011.
The cost of the main event – the turkey – rose slightly because of lower production and problems associated with avian flu. Other price jumps came from pumpkin pie mix, rolls, and stuffing.
John Anderson is deputy chief economist at the American Farm Bureau Federation. He says persistently low energy prices helped keep the cost of the meal in check.
“When we tend to see prices moving a lot, it's when energy prices are moving a lot. And this year, energy prices have been low and stable for really most of the year,” Anderson said. “Given that sort of foundation, I really expected fairly stable prices.”
There were a few items that dropped in price, though most of the drops were negligible. The cost of dairy items like milk and whipping cream fell, as did peas and fresh cranberries.
For last minute shoppers, there is a happy caveat here: the AFB survey asks its shoppers to look for the best prices on items without using special offers or coupons.
That means, as retailers get aggressive for your holiday business, you may be able to get your Thanksgiving dinner on the table for less.