Americans Hosting Thanksgiving To Spend 19% More Than In 2023

As the Thanksgiving season unfolds, many Americans are finding their holiday celebrations come with a steeper price tag. A recent LendingTree report highlights that individuals hosting Thanksgiving this year are expected to spend 19% more on food, drinks, and decorations compared to last year. This jump reflects the ongoing strain of inflation, which continues to ripple across household budgets. 

Interestingly, while inflation drives up overall hosting expenses, the American Farm Bureau Federation’s annual survey reveals that the cost of a classic Thanksgiving dinner for ten has actually decreased slightly. At an average of $58.08, it’s 5.05% lower than last year’s $61.17, largely thanks to falling turkey prices—a 16-pound bird now averages $25.67, down 6.0% from 2023. Despite these savings, meal prices remain significantly higher than pre-pandemic levels, underscoring the enduring effects of supply chain disruptions and inflation.

While some costs for traditional dishes have fallen—like frozen pie crusts and whipping cream—others, such as dinner rolls and sweet potatoes, have seen marginal increases. Hosts are also spending more on holiday-related décor and beverages to enhance the festive atmosphere.

As Americans navigate these financial pressures, many are turning to promotions and advance shopping to offset the costs, ensuring that this beloved holiday remains a time for connection and gratitude despite economic challenges.

Editors Note: This story was generated with the assistance of Artificial Intelligence. 

Image source: 123rf.com. 

James Hendrickson

James Hendrickson is an internet entrepreneur, digital publishing junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.