Thanksgiving may gobble up more of your budget this year—the cost of a turkey dinner for 10 has reached an all-time high of $50.11.
That’s up 70 cents, or nearly 1.5 percent from a year ago, according to The American Farm Bureau Federation. But accounting for inflation, the cost this year will be comparable to 2011 and 2012.
There have been price decreases in items like milk and fresh cranberries. However, the overall price of the dinner has increased because of the turkey itself. Corinne Alexander, a Purdue University agricultural economist, expects some turkey prices to be as much as 20 percent higher than last year. That’s partly because supply was squeezed over the summer, after the worst outbreak of bird flu in U.S. history.
Other foods with large price increases over the past year include pumpkin-pie mix, bread cube stuffing, and pie shells. A 30-ounce can of pumpkin pie mix was $3.20, a 2.5 percent increase; a 14-ounce package of bread cube stuffing was $2.61, a 2.7 percent increase, and two 9-inch pie shells cost $2.47, a 2 percent increase.
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However, if price isn’t an issue, the Old Homestead Steakhouse in New York City is offering a $45,000 Thanksgiving meal, complete with caviar, foie gras, and a 2-carat diamond ring.
While at least two people have reportedly inquired about the pricey package, it is unclear whether the restaurant will get any bites.
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