As Americans plan to celebrate Thanksgiving on Nov. 24, it seems that it may cost a pretty penny. A new report from market research firm IRI found that Thanksgiving will likely jump in price by 13.5% this year.
According to CNN, this new report measured the cost of turkey, popular side dishes, baking essentials and more to calculate what Americans can likely expect to pay this year compared to last year. Wells Fargo reported that the cost of groceries rose 9.81% over the last year, but turkey, cranberry sauce and other items have prices that have skyrocketed.
Are there any Thanksgiving promotions?
Both Walmart and Aldi are offering Thanksgiving deals.
Walmart announced that it would offer Thanksgiving staples at the same price they were at in 2021 to help consumers save money for the big day. Today reported that Aldi is offering its prices from 2019 for Thanksgiving meal ingredients.
There is also a way to get a free turkey.
WinCo is offering a deal where if you make a $125 purchase, you can get a free turkey from the supermarket. Terms and conditions apply, but this is certainly a great way to stock up on essentials and pantry staples while also saving money on a turkey.
Either way, the big Turkey Day will likely cost more than you think.
Why is Thanksgiving so expensive this year?
The avian flu is one factor that is responsible for what is shaping up to be a drastic rise in turkey prices — and a turkey shortage. This traditional Thanksgiving bird is expected to cost $1.99 per pound compared to $1.15 per pound on average.
Last year, Forbes reported that the average cost of Thanksgiving dinner had risen to $53.31 and consumers can expect to pay even more this year.
While families gather around the table to celebrate Thanksgiving this year, there are some ways that the cost can be lowered.