INDIANAPOLIS — Next week, Indiana residents will be gathered around the Thanksgiving table, spending time with their respective friends and family and looking ahead to the holiday season.
Officials with the Indiana Farm Bureau project that Hoosiers will have saved some money in preparation for that particular meal in 2023.
According to a news release from the bureau, Indiana shoppers are expected to pay an average of $54.64 for a Thanksgiving dinner for 10 people in 2023, a 10% decrease from 2022’s projections. However, officials project this year’s price is 28% more than it was four years ago, citing the ongoing impact of food inflation.
On average nationally, according to data from the American Farm Bureau Federation, the Thanksgiving meal is projected to cost $61.17 for 10 people, a 4.5% decrease from last year’s record-high average of $64.05.
“While shoppers will see a slight improvement in the cost of a Thanksgiving dinner, high inflation continues to hammer families across the country, including the nation’s farmers,” American Farm Bureau Federation President Zippy Duvall said in the release. “Growing the food families rely on is a constant challenge for farmers because of high fuel, seed, fertilizer and transportation costs, just to name a few.”
Officials said the main cause of the projected decrease in Indiana is linked to the lower cost of turkey, a decrease of about 21% from 2022.
The 2023 turkey price stems from a “dramatic reduction” in avian influenza cases, as well as a recovery of the United States’ turkey population, particularly in the Midwest where many turkeys are produced.
“Three out of the five top turkey-producing states are located in the Midwest, with Indiana ranking fourth,” Todd Davis, the chief economist for the Indiana Farm Bureau, said in the release. “The concentration of turkey production in this region provides lower processing and marketing costs, which gets the turkey from the farm to the hands of the consumer efficiently.”
More than half of the items that were recorded in the Thanksgiving dinner were less expensive for Hoosiers in 2023, including whipping cream and cranberries. Some items that became more expensive include frozen peas and pumpkin pie filling.
|Thanksgiving Market Basket Items||2023 Indiana Costs||2022 Indiana Costs|
|Turkey (16 lb.)||$22.11||$28.02|
|Stuffing (14 oz. package)||$3.69||$3.80|
|Pumpkin pie filling mix (30 oz. can)||$4.82||$4.35|
|Pie shells, 9 in. (2 per package)||$2.89||$3.06|
|Sweet potatoes (3 lb.)||$4.02||$3.72|
|Rolls (1 doz.)||$3.65||$3.57|
|Peas (16 oz. package, frozen)||$1.71||$1.56|
|Veggie tray (.5 oz. each fresh carrots and celery)||$0.93||$0.86|
|Whole milk (gal.)||$3.04||$3.35|
|Cranberries (fresh, 1 lb. package)||$2.26||$2.54|
|Whipping Cream (1/2 pint)||$1.56||$2.06|
|Misc. ingredients including coffee, butter, eggs sugar and flour||$3.95||$4.13|
|Average total meal price||$54.64||$61|
The Midwest reported the most affordable Thanksgiving dinner in 2023, with an average cost of $58.66. The Midwest was followed by the South at $59.10, the West at $63.89 and the Northeast at $64.38.
“While high food prices are a concern for every family, America still has one of the most affordable food supplies in the world. We’ve accomplished that, in part, due to strong farm bill programs,” Duvall said in the release. “Although our focus is sharing time with family and friends this Thanksgiving, our thoughts also turn to encouraging Congress to double down on a commitment to passing a new farm bill with a modernized safety net to support those who raise the crops and livestock that supply Thanksgiving dinner and every dinner.”
Officials said the survey was conducted in early November by volunteer shoppers across the state who collected prices on specific items from their local stores. Shoppers were asked to look for the best possible prices, without using deals or coupons.