Consumers heading to the grocery store for Thanksgiving dinner may find themselves facing a more manageable price tag than in previous years, according to a recent survey by the Illinois Farm Bureau. A significant drop in turkey prices has played a key role in reducing overall costs.
The average price of a 16-pound frozen turkey in Illinois has plummeted 16.3% from last year, reaching $18.03, or $1.34 per pound. This decrease is largely attributed to lower consumer demand for turkey and the impact of diseases such as Highly Pathogenic Avian Influenza on farm inventory.
The American Farm Bureau Federation's annual cost of Thanksgiving dinner report also revealed that national average prices for a 10-person meal have declined by 5% from last year, reaching $49.20. However, some side dishes are expected to be more expensive this year, with sweet potatoes rising by 37% and veggie trays jumping 61%.
Experts attribute the lower turkey price to retailers' efforts to drive sales through special promotions and reduced prices. Larger grocery stores have an advantage in negotiating these deals due to their bulk purchasing power.
Farmers continue to work towards rebuilding flocks devastated by avian influenza, but the combination of lower demand and reduced inventory has helped keep prices in check. This relief is particularly welcome for consumers who have faced consistently higher grocery prices over the past year.
Overall, while some side dishes may cost more than usual, the overall trend suggests that Thanksgiving dinner prices are trending downward, offering consumers a bit more room to stretch their budgets this holiday season.
The average price of a 16-pound frozen turkey in Illinois has plummeted 16.3% from last year, reaching $18.03, or $1.34 per pound. This decrease is largely attributed to lower consumer demand for turkey and the impact of diseases such as Highly Pathogenic Avian Influenza on farm inventory.
The American Farm Bureau Federation's annual cost of Thanksgiving dinner report also revealed that national average prices for a 10-person meal have declined by 5% from last year, reaching $49.20. However, some side dishes are expected to be more expensive this year, with sweet potatoes rising by 37% and veggie trays jumping 61%.
Experts attribute the lower turkey price to retailers' efforts to drive sales through special promotions and reduced prices. Larger grocery stores have an advantage in negotiating these deals due to their bulk purchasing power.
Farmers continue to work towards rebuilding flocks devastated by avian influenza, but the combination of lower demand and reduced inventory has helped keep prices in check. This relief is particularly welcome for consumers who have faced consistently higher grocery prices over the past year.
Overall, while some side dishes may cost more than usual, the overall trend suggests that Thanksgiving dinner prices are trending downward, offering consumers a bit more room to stretch their budgets this holiday season.