Indiana’s Thanksgiving meal costs less than last year, but still 25% more than 5 years ago
INDIANAPOLIS (WISH) — People in Indiana can expect to spend about 2% less at the grocery store on their Thanksgiving meal when compared to last year, but still 25% more than five years ago. That’s according to Indiana Farm Bureau’s annual Thanksgiving market basket survey, which was released on Wednesday.
The company says its Thanksgiving market basket survey is conducted in early November by volunteer shoppers across the state who collected prices on specific food items from one of their local grocery stores.
This year’s INFB Thanksgiving basket includes a 16-pound turkey, stuffing, sweet potatoes, rolls, peas, a carrot and celery veggie tray, whole milk, cranberries, whipping cream, ingredients for pumpkin pie and miscellaneous baking items.
On average, the survey found Hoosiers can expect to pay $53.31 for a Thanksgiving dinner for 10 people, or $5.33 per person.
Indiana’s market basket price is also is approximately 8% lower than the U.S. average price of $58.08, or $5.81 per person.
A main driver of the decrease in Indiana is the lower cost of the turkey, which is also less than the national average this year, Indiana Farm Bureau Chief Economist Todd Davis says.
“Indiana ranks third in turkey production, with more than 8.4 million turkeys in the state, according to the latest U.S. Department of Agriculture’s Census of Agriculture,” Davis said in a release.
“The turkey accounts for about 44% of the Thanksgiving dinner, so with Indiana in the heart of turkey production and with retail turkey prices down, it isn’t surprising that the turkey is more affordable this year, specifically in the Midwest. 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.”
Another Thanksgiving item that is less expensive this year is pumpkin pie filling.
The cost for a 14-ounce package is $3.78, which is approximately 22% less than last year in Indiana. Experts say that’s due to Indiana’s proximity to pumpkin production. The Hoosier state ranks second in pumpkin production in the country, according to the USDA.
Despite the decrease, the company says this year’s Thanksgiving meal still reflects historically high costs.
Indiana Farm Bureau found the cost of a Thanksgiving meal is still 25% higher than it was five years ago, and the company points to the impact inflation has had on food prices since the pandemic as to why.
According to the U.S. Bureau of Labor Statistics, the cumulative inflation for food at home has increased by 26% in the same time period.
