A Farm Bureau survey shows the cost of a turkey dinner is up slightly this year. The 25th annual survey prices several items used to cook a Thanksgiving dinner for ten people. Those ingredients cost $44.61 in this year’s survey, up 56-cents from last year. Dave Miller, the Farm Bureau’s research director, says the increase is consistent with the economy.
He says milk is up 30 to 40 cents a gallon, while turkey is down about $1 a pound for a 16-pound turkey. Miller says the increase is about two-percent, which is the current level of inflation. He says the survey didn’t contain any surprises this year.
Miller says food prices have remained stable and tend to go up in line with the general economy, although he says food prices have actually increase less than inflation in general. He says we are down to about 10% of our disposable income that we spend on food.
While the cost of the dinner is up this year, it is down over $1.14 compared to two years ago. The survey found the price of the dinner rose by $11.10 this decade, including two years — 2002 and 2004 — when the cost dropped from the previous year.
Over the 25 years of the survey, the cost of the meal has increased $14.73 from its starting price of $28.74 in 1986.