Thanksgiving Dinner Costs Drop This Year, Offering Relief from Inflation
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The cost of a traditional Thanksgiving meal for 10 people is about 4.5% lower this year compared to 2022, according to the American Farm Bureau Federation's annual survey.
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The average cost of a 16-pound turkey is down 5.6% to $27.35. Other items like cranberries and whipping cream also saw double-digit price drops.
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While still about 25% higher than pre-pandemic levels in 2019, the easing food inflation reflects improving supply conditions and slowing consumer demand.
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Lower airfares and gas prices will make travel cheaper for Thanksgiving this year. Retailers may offer aggressive discounts amid slowing economic growth.
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The only major cost not falling is video streaming services, which are about 5% more expensive than last year.