Early projections indicate that the cost of a Thanksgiving dinner for ten will decrease by approximately 2% to 3% in 2025 compared to 2024. This reduction occurs despite a general trend of food inflation across the United States. According to an analysis from Wells Fargo, a typical store-brand Thanksgiving dinner will cost around $80, while meals featuring name-brand items will be priced at about $95.
The analysis takes into account essential Thanksgiving components such as turkey, stuffing, vegetables, and dessert items. While the overall consumer price index shows that food prices have risen by approximately 2.7% over the past year, certain items like turkey have experienced minimal price hikes or even declines.
Detailed Cost Breakdown
Wells Fargo’s report highlights that a Thanksgiving meal consisting entirely of store-brand products would cost about $80. In contrast, a meal utilizing name-brand items is expected to cost around $95. Shoppers looking to save more may benefit from mixing national and store brands.
The analysis covers various Thanksgiving staples, including turkey, stuffing, frozen vegetables, prepared mashed potatoes, gravy, fresh cranberries, dinner rolls, salad mix, pumpkin pie, and whipped cream. This year, private-label dinner rolls are approximately 22% cheaper, while turkey, prepared gravy mix, and fresh cranberries have seen price drops of about 3% to 4%. However, some items, such as salad mix and whipped cream, have become more expensive.
Political Commentary on Food Costs
Earlier this week, former President Donald Trump referenced Walmart’s annual Thanksgiving meal report, which claimed that a feast for ten would cost $4 per person, a drop from $7 last year. Trump stated, “So Walmart, which everybody trusts — and I trust — they’re not looking to do anything except give numbers, and they have for many years.”
It is important to note that Walmart’s 2024 meal included different items like Hawaiian rolls, mini marshmallows, and sweet potatoes, making it challenging to compare directly with previous years. This highlights the ongoing discussion about how to prepare a Thanksgiving meal on a budget while navigating fluctuating ingredient prices.
The projected decrease in Thanksgiving dinner costs offers a glimmer of hope for families looking to celebrate the holiday without breaking the bank. As 2025 approaches, consumers may find it beneficial to plan their meals strategically, considering both store-brand and name-brand options to optimize their spending.
