Expect to Pay a Lot Less for Thanksgiving in New York This Year

Finally, some good news!

Last year, inflation slowed a beat around Thanksgiving and Americans collectively sighed in relief when shopping for that big family gathering.

This year, things are looking even better.

The American Farm Bureau Federation habitually tracks the cost of what a Thanksgiving meal for ten, consisting of 12 classic items, on an annual basis.

The record for the highest cost of a Thanksgiving meal was set in 2022, when the average cost around $64.05.

Last year, prices tumbled by 4.5% and Americans paid an average of $61.17 for that big family dinner.

This year, we'll pay even less.

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The AFBF predicts an average Thanksgiving feast will cost around $58.08 this year. For a family of 10, that comes down to roughly $5.80 per person.

That's a drop of about 11% from the record high set in 2022, but it is still about 21% more than what we paid for in 2020.

Why Are Prices Falling?

You can thank grocery stores finally reading the room and rolling out some sales that would actually interest shoppers.

Aldi told Good Morning America it's offering its most inexpensive Thanksgiving meal in 5 years.

In addition, Walmart is rolling out what it's calling "inflation-free holiday meals" where a Thanksgiving feast for 10 costs less than $7 a plate.

In addition to shopper discounts, several produce items also took a tumble in price this year. Leading the charge is the cost of the main attraction - the turkey itself.

Turkey prices have shrunk by 12% over the past year and will cost Americans an average of $2.08 a pound.

The cause for that is the further decrease of avian influenza that killed millions of birds across the country.

Forbes also reports that what is used to feed turkey - mainly corn and grains - have come down in costs and have put less stress on production inputs.

Cranberries are another Thanksgiving staple that enjoyed a major price reduction. The average cost of a pound of fresh cranberries shrank by 20% since last year, says Good Morning America.

Meanwhile, the canned stuff will cost you about 7% more, so pick your battles wisely.

Another item at the dinner table costing less this year is salad thanks to the falling cost of lettuce. Pre-packaged salads are costing about 2% less than last year, reports Forbes.

Here's How Much Thanksgiving Will Cost in NY in 2024

Go Banking Rates has taken all the data and averaged out how much a turkey dinner will cost on a state-by-state basis.

Interestingly, New York is not among the most expensive states this year and that is likely due to having better shipping costs than states like Alaska or Hawaii.

In fact, Thanksgiving will cost about $80 bucks in Hawaii because they have to import a good portion of the dinner staples.

Meanwhile, New York's prices have fallen into the mid-tier in 2024. It's believed the average family in the Empire State will spend $69.92 on a dinner for 10 this year.

Luckily for you, we already have some tips on how to save yourself even more money at the grocery store this year.

Read More: Money-Saving Hacks for Thanksgiving Dinner in New York

As for the state with the cheapest prices, that would be Georgia.

The average family dinner will run an average tab of $58.20 thanks to its booming agricultural produce and stores offering some of the best Thanksgiving deals nationwide.

Do you think we'll continue to see our grocery bills shrink? Let us know by giving us a shout via the station app.

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