Looking at the Farm Bureau's data, while the nominal price has risen to $58.08, the inflation-adjusted cost is around $18.40. This suggests that the real burden of the meal has remained relatively stable over decades. The component parts that were factored into this year's survey represent a standard list of "classic" food items, including a 16-pound turkey ($25.67), stuffing ($4.08), pie crusts ($3.40), whipping cream ($1.81), peas ($1.73), dinner rolls ($4.16), and other essentials. Notably, some items saw significant price decreases this year, such as sweet potatoes (down 26.2%) and whole milk (down 14.3%), while others increased, like dinner rolls (up 8.4%) and cranberries (up 11.8%). You can be the judge of how accurate it really is. Personally, I think a few items are missing here. (Where are the collard greens, the ham, and the all-important mac and cheese?!) Though interestingly, the Farm Bureau does track an "updated" dinner that includes ham, Russet potatoes, and green beans, bringing the total to $77.34. While recent price decreases are encouraging, the impact of inflation remains significant since the beginning of the pandemic. And while some families may hardly notice the changes in prices, others might see a palpable difference in what gets placed on the dining room table this year. That's why gratitude should be the true centerpiece on Thanksgiving. It's not about how much money is spent but the time we spend together. Enjoy your holiday, Anthony |
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