There's no denying that Thanksgiving dinner can get a little pricey. After all, most Americans will gobble down an entire pile of food next Thursday, and ingredients aren't cheap these days. The cost only grows for larger families: it's not uncommon for a dozen or more people to sit around the Thanksgiving table.
Unfortunately for food-lovers everywhere, it seems that the cost of Thanksgiving is going up. As food costs more to distribute, the price for consumers goes up, and 2014 will see an overall higher cost-per-item compared to last year's holiday. While it's easy to think that turkey is to blame, you'd be surprised by what the real culprit is.
According to the American Farm Bureau Federation, the cost of dairy products is behind the jump in price this year. Miscellaneous ingredients, such as coffee and sugar, also inflated the price of the meal, but milk and cheese were the main reasons that the price is up over last year. Surprisingly, the Bureau expects the price of turkey to drop, as production is at its lowest level in nearly three decades.
Now, it's important to remember that the Bureau's estimate is based on feeding 10 people, so if you've got fewer mouths to feed, don't expect to pay quite as much. Plus, there have been price drops on other commodities, such as gas, which should make a big difference as well.
So, exactly how much should you expect to spend this Thanksgiving?
Roughly $49.41, or 37 cents more than last year.
That might not sound like much, but Thanksgiving dinner will still cost less to prepare than it did in 2012. Two years ago, it was estimated that the dinner would cost $49.48, as opposed to 2014's $49.41.
Hopefully, everyone around the country has been saving their quarters...they're going to need them.
