The New York Farm Bureau released its Market Basket Survey for 2023 and found some good and bad news about how much Thanksgiving will cost us this year.

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Thanksgiving Will Cost HOW Much?

Every year, the NYFB releases its annual survey of what a traditional Thanksgiving dinner costs and compares it to the previous year's prices.

Jack Puccio

As we all remember from 2022's trip to the grocery store, prices shot up like crazy and cost the average American roughly $66 for a 16 pound bird and all the fixings.

While inflation hit its biggest  monthly drop in three years, with rates in October falling from 3.7 to 3.2 percent, we will still have to pay a little more to put on our Turkey Day feast.

However, the NYFB suggests prices will shrink a little more now that grocery stores are about to roll out their holiday promotions and last minute sales.

The Current Outlook

This year's survey finds prices for just about everything has increased from 2022. But there were some price drops in other categories.

People will be paying more for items like pumpkin pie mix, frozen green peas, stuffing, and milk.

Our volunteer shoppers recorded prices across the state between Nov. 5-10 and found turkey prices averaged $2.12 per pound, which is 23 cents per pound more than last year’s average price in this informal survey. This price is higher than the national average of $1.71/lb.

Last year, a gallon of whole milk cost $3.86. The price has since risen to $3.92. Additionally, frozen green peas went up by roughly 50 cents for a 16-ounce package while frozen pie shells jumped by roughly a dollar.

Homemade Roasted Thanksgiving Day Turkey
Photo Credit - bhofack2/Thinkstock

Conversely, costs relaxed for items like whipping cream (down almost a dollar), sweet potatoes (down 10 cents a pound), and fresh cranberries (down 7 cents).

However, it seems the price jumps offset whatever declines that would have translated on our final grocery bills because, overall, New Yorkers will be paying $4.31 more than last year.

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The majority of that increase comes from the bird itself, which went up by $3.61 since last year.

But before you begin cursing and kicking rocks, take a moment and remember the sticker shock whiplash that was last year.

Better Than 2022

Last year, the average cost of a "classic" Thanksgiving meal for 10 people hit $66.39, which was a whopping $20 jump from 2019, thanks to record-high inflation. In all, prices surged by 26 percent.  This year, prices have rose by roughly six percent.

Bill Zalakar, Long Island farmer and chair of the New York Farm Bureau Promotion and Education Committee, said prices rose at a smaller pace than the previous couple of years.

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He is also reminding residents to be kind at this time of year, because the outcome could have been much worse had it not been for the state's hardworking farming community.

Input costs to produce food remain high as well, but farmers and farmworkers are doing all they can to grow the best food in the most efficient way possible to help New Yorkers put food on their tables this holiday season and year-round.

He also noted chains might enact special sales to ensure certain products are moved off their shelves, like pies and fresh produce. Zalakar said be on the lookout for special sales, coupons and deals that'll likely pop up in the days ahead.

He also explained that those who wish to cut costs can back off the brand loyalty and purchase store brand items, which are less expensive and similar to that of the famous brands.

Some Promising Developments

Also, if it helps any, New York prices are still on the affordable side if you break down the average cost of a Thanksgiving meal per person. For example, NYFB bases their estimate off feeding a family of 10, and this year it comes down to $7.70 per person.

Americans Celebrate Thanksgiving Holiday As Coronavirus Cases Surge
Photo Credit: Brandon Bell, Getty Images

Economists also say falling gas prices will also benefit consumers, because refrigerated trucks are going to cost less to ship food nationwide.

Last year, the average cost-per-mile was around $3.80. Currently, the rate is averaging around $3.30.

Are you surprised by this year's survey? Let us know what part of the Thanksgiving feast is always worth the price.

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