Answer: $48.90

Questions:

• What has been the recent trend with the cost of a Thanksgiving dinner? On an inflation-adjusted basis? 
• What conclusion might you draw from this chart about food inflation over the past five years? 
• What are you thankful for this Thanksgiving season? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Farm Bureau):

The American Farm Bureau Federation’s 33rd annual survey of classic items found on the Thanksgiving Day dinner table indicates the average cost of this year’s feast for 10 is $48.90, or less than $5.00 per person. This is a 22-cent decrease from last year’s average of $49.12....

The featured food on most Thanksgiving tables – the turkey – cost slightly less than last year, coming in at $21.71 for a 16-pound bird....

The shopping list for Farm Bureau’s informal survey includes turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, a veggie tray, pumpkin pie with whipped cream, and coffee and milk, all in quantities sufficient to serve a family of 10 with plenty for leftovers. Foods showing the largest decreases this year in addition to turkey were a gallon of milk, $2.92; a 3-pound bag of sweet potatoes, $3.39; a 1-pound bag of green peas, $1.47; and a dozen rolls, $2.25.

Several items saw modest price increases this year including cranberries, pumpkin pie mix and stuffing. A 12-ounce bag of fresh cranberries was $2.65; a 30-ounce can of pumpkin pie mix was $3.33; a 14-ounce package of cubed bread stuffing was $2.87; two nine-inch pie shells came in at $2.47 and a 1-pound veggie tray was $.75. A group of miscellaneous items including coffee and ingredients necessary to prepare the meal (butter, evaporated milk, onions, eggs, sugar and flour) was also up slightly, to $3.01. There was no change in price for a half-pint of whipping cream at $2.08.

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Here's a timely project to engage your students: Plan A Friendsgiving Dinner! 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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