NJ’s Trenton Due in part to two years of rising inflation, New Jerseyans are accustomed to spending much more for everything, and this year we will still be paying more for Thanksgiving meal than in previous years. Prices continue to rise, particularly in the Garden State, even though the rate of inflation has decreased.
Thanksgiving dinner has long been associated with plenty, but with the skyrocketing cost of groceries in recent years, it has also become a contentious economic issue. Even while the average cost of the feast in 2023 has somewhat decreased to $58, it is still far more expensive than it was in 2016, when Donald Trump entered office, when the average cost was a comfortable $49.87. When inflation was taken into account, the 2016 price was the lowest since 2010, which was a golden moment for turkey enthusiasts on a tight budget.
What s Driving the Higher Prices?
The most notable price increase was from 2019 to 2022, when the average cost of Thanksgiving dinner increased by about 40%. For a family of ten, the price hit an all-time high of $64.05 by 2022. Experts attribute the increase to supply chain interruptions, increased gasoline prices, and avian flu outbreaks that affected turkey supplies.
Due to improved supply chains and a reduction in inflation, prices are down 9% from the previous year, although this year’s cost is still about 30% more than in 2016. Families who have seen their grocery expenses skyrocket in recent years will find that difficult to accept.
What s in the $58 Feast?
A 16-pound turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, a relish tray with carrots and celery, pumpkin pie with whipped cream, and drinks like milk and coffee are all part of the traditional Thanksgiving table. These are all calculated in amounts that will feed ten people.
Keeping Costs Down
There are several strategies to reduce expenses this year if you’re trying to save money:
- Shop sales early: Many grocery stores offer discounts or free turkeys if you spend a certain amount.
- Skip the extras: Stick to the essentials if cranberry sauce or that relish tray isn t a family favorite.
- Go potluck: Share the burden by asking guests to bring a dish.
Therefore, even while Thanksgiving dinner may not be as inexpensive as it was in 2016, good planning can help you control expenses and concentrate on the important things. (And relatives, of course!)
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