Affordability of Thanksgiving Dinner in 2024

SOURCE www.nbcnews.com
Thanksgiving dinner costs have dropped by 5% this year, making it more affordable than in previous years. The true test of affordability is reflected in inflation-adjusted costs, which have improved due to wage inflation. Despite some increases in prices for certain foods, overall Thanksgiving meal prices have decreased, offering good news for shoppers.

Key Points

  • Thanksgiving dinner costs have dropped by 5% this year
  • Inflation-adjusted costs have improved due to wage inflation
  • Certain food items like turkey are cheaper this year

Pros

  • Thanksgiving dinner costs have decreased by 5% compared to last year
  • The true test of affordability is reflected in inflation-adjusted costs, which have improved due to wage inflation
  • Some food items like turkey are cheaper this year, making Thanksgiving dinner more affordable for many households

Cons

  • Not all workers have benefited equally from pay gains
  • Long-term expenses like housing costs and child care continue to put financial pressure on many families