An annual survey shows that the traditional Thanksgiving meal will be a tick more expensive for Hoosier families this year.
Indiana Farm Bureau’s annual “market basket survey” found the cost of a 10-person Thanksgiving dinner averages $53.62, up 0.6% from 2024. That compares to a national average price this year of $55.18.
The expected cost of $21.09 for a 16-pound turkey is virtually the same as last year, with produce prices the driver of the slight overall increase, according to Indiana Farm Bureau Chief Economist Todd Davis.
Those higher prices are seen in carrots and celery for a veggie tray (43 cent increase), sweet potatoes (30 cent increase), pumpkin pie filling (24 cent increase) and peas (14 cent increase).
“Fresh produce markets can be very volatile, and many of these items saw an increase in wholesale and retail prices nationally,” Davis said. “Those retail prices reflect an increase in factors beyond the farm gate, including transportation, labor, fuel, packaging and more that contribute to the overall increased cost of the product.”
The survey’s price calculation includes the 16-pound turkey, stuffing, sweet potatoes, rolls, peas, a carrot and celery veggie tray, whole milk, cranberries, whipping cream, ingredients for pumpkin pie and miscellaneous baking items.
The Farm Bureau says its market survey was conducted in early November by volunteer shoppers across Indiana who search for the best prices at their local grocery stores while not using coupons or special promotions.
With the turkey making up 39% of the total dinner cost, the Farm Bureau points to Indiana ranking fourth in national turkey production as helping the state’s turkey price being about 2% less than the national average.
“The concentration of turkey production in this region provides lower processing and marketing costs, which gets the turkey from the farm to the Thanksgiving table efficiently,” Davis said.
Still, a Thanksgiving meal in Indiana costs about 25% more than it did in 2019, reflecting a trend of post-COVID-19 pandemic inflation that’s still affecting grocery prices.
The Thanksgiving meal survey found a cost of $42.66 in 2019, but it has fallen about 12% since hitting a peak of $61 in 2022.
The Indiana Farm Bureau pointed to U.S. Department of Agriculture statistics showing that only 15.9 cents of every retail food dollar can be attributed to farm production. The rest is for food processing, packaging, transportation, wholesale and retail distribution and food service preparation.
“Many consumers don’t realize that farmers are price-takers, just like them,” said Janis Highley, the Indiana Farm Bureau’s 2nd vice president. “We don’t set the prices, and the amount farmers are being paid doesn’t cover the increase of their input expenses.”
President Donald Trump earlier this month boasted that prices are falling under his administration — pointing to the cost of WalMart’s Thanksgiving bundle being 25% less. But this year’s package contains less food than in 2024.
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