The price of putting together an epic Thanksgiving feast shot up 13 per cent in the last year.
Retailers aren’t holding back on upping the ante for staple foods for the holiday — like turkey, stuffing, cranberries, pumpkin, etc — which each saw price hikes in the last year, according to the American Farm Bureau Federation.
The typical 10-person dinner will run about $50, the AFBF says, which is up $6 over 2010.
“The era of grocers holding the line on retail food cost increases is basically over,” said John Anderson, a senior economist for the group. “Retailers are being more aggressive about passing on higher costs for shipping, processing, and storing food for consumers.”
Most of your budget will go toward the biggest star at any carnivore’s holiday meal—the turkey. A 16-pounder will set you back $21, up 25 cents from last year.
But don’t fret.
You’ll still find special sales leading up to the holiday on the big bird, Anderson says.
And 50 bucks is still a bargain value compared to having your meal catered or hitting up a fancy restaurant.
If you’re seriously cash-strapped, think about hosting a potluck or splitting the cost of your grandmother’s famous stuffing with family and friends.
Stumped on what to wear to Thanksgiving dinner this year? See 10 cheap ways to update your winter look >
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