Good news for your wallet this Thanksgiving! The classic turkey dinner is getting a price cut, making it easier to gather friends and family without breaking the bank. According to recent reports, the average cost of a Thanksgiving feast for 10 people is expected to drop 5% in 2024, coming in at a more palatable $58.08.
What’s behind this welcome change? It’s all about the bird! Turkey prices have taken a 6% nosedive compared to last year, which is the main driver of the overall cost reduction. But it’s not just turkeys – the entire food landscape is shifting. Remember those sky-high grocery bills during the pandemic? Well, we’re finally seeing some relief as food inflation eases up.
Interestingly, it’s a bit of a balancing act between supply and demand. Turkey supply is actually at its lowest since 1985, partly due to bird flu outbreaks. But here’s the kicker – consumer demand has also decreased. It’s like that time you and your roommates all decided to skip the gym on the same day – suddenly, there’s plenty of equipment for everyone!
So, what does this mean for you? It’s time to get strategic with your Thanksgiving shopping! Compare store brands with name brands – you could save up to $17 on your grocery bill. And while you’re at it, stock up on milk. Thanks to favorable weather conditions for dairy production, whole milk prices have dropped 14%. Just think of all the extra pumpkin spice lattes you could make with those savings! Remember, a penny saved is a penny earned – or in this case, a few extra slices of pumpkin pie for everyone at the table.
