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A Thanksgiving meal in the Hoosier state is expected to cost a little less than last year — averaging about $53.31 for a 10-person spread — according to the Indiana Farm Bureau’s annual “market basket survey.”
Shopping for the spread costs about 2% less — that’s $1.33 less than a Thanksgiving meal cost Hoosiers in 2023, and $4.77 less than the average American will pay at the grocery store this year.
The calculation accounts for a 16-pound turkey; a 14-ounce package of stuffing mix; three pounds of sweet potatoes; one pound of frozen peas; a dozen rolls; a one-pound carrot and celery veggie tray; a pound of fresh cranberries; a half-pint of whipping cream; a gallon of whole milk; and ingredients for a pumpkin pie, according to the survey.
It also included costs for several miscellaneous baking items like coffee, butter, onions, eggs, sugar and flour.
The market survey is conducted each year by volunteer shoppers across Indiana who search for the best prices while not using coupons or special promotions.
Indiana production lowers some costs
Hoosiers get a cost break on some of the major meal ingredients because they’re produced in the state, according to INFB.
Indiana ranks third in turkey production, with more than 8.4 million turkeys in the state, according to the latest U.S. Department of Agriculture’s (USDA) Census of Agriculture.
INFB Chief Economist Todd Davis added that the turkey itself accounts for about 44% of the Thanksgiving dinner, “so with Indiana in the heart of turkey production and with retail turkey prices down, it isn’t surprising that the turkey is more affordable this year, specifically in the Midwest.”
“The concentration of turkey production in this region provides lower processing and marketing costs, which gets the turkey from the farm to the hands of the consumer efficiently,” Davis added.
Hoosier shoppers can expect to pay about $1.33 per pound for a whole turkey, or $21.22 for a 16-pound bird. That’s roughly 17% less expensive than the national average of $25.67.
Pumpkin pie filling expenses are also lower than in 2023.
The cost for a 14-ounce package of pumpkin pie filling in Indiana is $3.78, about 22% down from last year, according to the survey.
Pumpkin pie filling in Indiana is about 9% less expensive than the 2024 U.S. average. The USDA indicates that Indiana ranks second in pumpkin production in the country.
Thanksgiving prices still track higher
Even so, some items increased in price.
The retail prices of cranberries, whipping cream, sweet potatoes, stuffing and items for the veggie tray all went up, per the INFB survey.
Sweet potatoes, cranberries and items for the veggie tray are more pricier in Indiana this year than they are, on average, across the country.
Sweet potatoes, specifically, cost about 18% more than the U.S. average, which Davis said could be due to sweet potato production in the southern and western regions, along with the impact of transportation costs.
Overall, Indiana consumers are paying about 8% — or 48 cents — less per person to shop for ingredients for the meal than others across the country. The INFB noted the average cost of a Thanksgiving Day meal in the U.S. to be $58.08, or $5.81 per person.
Still, a Thanksgiving meal in Indiana costs 25% more than it did five years ago, reflecting a trend of post-pandemic inflation that’s still affecting grocery prices, the INFB said.
A meal cost $42.66 in 2019, compared to $53.31 today.
But costs are trending downward; a Thanksgiving meal today costs 27 cents less than it did in 2021, INFB officials emphasized.
“Nevertheless, Hoosier farmers find ways to streamline their operations and decrease costs of production,” said INFB Vice President Janis Highley. “Many people don’t realize that Indiana is a top-producing state for turkey and pumpkins, so we have many local farmers to thank for our holiday meal this year. Turkeys also consume a significant amount of soybean and corn meal, top Hoosier farm commodities, so they’re important to our state’s economy too.”
The Indiana Capital Chronicle is an independent, not-for-profit news organization that covers state government, policy and elections.
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