CHICAGO – Buying your Thanksgiving dinner is going to gobble up more of your budget this year.
In fact, Wells Fargo analysts say food prices are so high it may be more cost-effective to dine out this Thanksgiving.
The American Farm Bureau hasn’t released its annual cost estimate for this year’s holiday dinner yet, but in 2021 it cost $53.31 to feed ten people.
Costs for Thanksgiving dinner staples are projected to increase by 13.5% this year according to the data firm IRI, due in part to inflation, supply issues, and more than 6 million turkeys dying from avian flu.
Not only will the turkey cost more, but so will butter, eggs, dinner rolls, flour, fruit, vegetables, and even pies.
According to a recent survey by Morning Consult, 87% of Americans plan to host Thanksgiving in spite of the steep grocery prices, with 82% saying they plan to look for deals and discounts.
Now if you’re making your grocery list and checking it twice, Aldi and Walmart want to take some of the financial stress off of you.
Aldi is offering pre-pandemic prices on holiday essentials as part of its Thanksgiving Price Rewind. The grocer is setting prices back to November 2019 levels with discounts up to 30% on holiday sides, appetizers, and desserts.
This includes beverages, cornbread stuffing, rolls, brie cheese, apple pie, and wine, with the 2019 prices remaining until the end of November.
Walmart is also spreading holiday cheer with a similar offer called This Year’s Thanksgiving Meal at Last Year’s Price.
Holiday meal items will cost the same as they did in November and December of 2021, including whole turkeys selling for less than a dollar per pound.
Also included in the discount are potatoes, ham, pumpkin pie, stuffing and freshly baked desserts, with those prices remaining in place until December 26th.
Other things to consider doing to save money on your holiday meal:
- Swap the turkey for chicken
- Cook smaller portions
- Make dishes from scratch instead of buying pre-made
- Skip serving the trendy side dishes