A year ago, many Hoosiers pivoted their traditional vacation plans to smaller or virtual gatherings in response to the COVID-19 pandemic. Fast forward 12 months and Thanksgiving is pretty much back to normal. Families can’t wait to get together this year, which means many Hoosiers will be cooking up a traditional Thanksgiving meal for a large group with all of the holiday favorites – turkey, stuffing, cranberry sauce and more. In preparation, the Indiana Farm Bureau surveyed buyers statewide to identify the average price for these traditional Thanksgiving dishes.
The INFB’s annual Thanksgiving Market Basket survey shows that Hoosier shoppers can expect to spend about 12% more on groceries than in 2020. According to the Hoosier’s price survey. year, the price of the individual meal is approximately $ 5.36. Despite the increase from 2020, this year’s meal prices are comparable to the US average of $ 5.33, about 3 cents more per person than the national average.
“There is no doubt this has been a tough year,” said Isabella Chism, INFB 2sd vice-president. “In the aftermath of the pandemic, pervasive supply chain problems are driving up prices and the economy is strained. This year’s Thanksgiving Market Basket reflects what Hoosiers see when they visit their local grocery stores. However, the increase in the price of Thanksgiving dinner in Indiana is comparable to the costs in the rest of the country. “
The main drivers of an overall price increase are inflation, supply chain disruptions and a significant increase in food consumed at home – all lingering effects of the pandemic. According to the United States Bureau of Labor Statistics, over the past 12 months, headline inflation has increased 6.2% and the price of food consumed in the home has increased 5.4%.
In the food supply chain, only 8 cents of every dollar of food consumption can be allocated to agricultural production. Using this figure, the farmer’s share of that $ 53.58 market basket would be less than $ 5. The remainder is for food processing, packaging, transportation, wholesale and retail distribution, food service preparation and other marketing costs.
“In the mid-1970s, farmers received an average of over 30 cents on the dollar for consumer food retail purchases. Since then we have seen a steady decline year over year, ”said Chism. “Hoosier farmers continue to find ways to streamline their operations and reduce production costs to deal with this decline, while providing safe and affordable food to Hoosiers and families around the world. “
The total market basket price of $ 53.58 includes a 16 pound turkey, stuffing, sweet potatoes, buns, peas, carrot and celery veg platter, whole milk, cranberries , whipping cream, pumpkin pie ingredients and various baking items.
This year, buyers can expect to pay around $ 1.58 per pound for a whole turkey, or $ 25.22 for a 16-pound bird. Other traditional Thanksgiving items that Hoosier shoppers can expect to be a bit more expensive this year include pumpkin pie filling, pie crusts, rolls, peas, whole milk, and cranberries. Items that might be more affordable this year include stuffing, a veggie platter, and whipping cream. Sweet potatoes remain relatively unchanged.
Some Hoosiers may skip the turkey this year and opt for a ham instead. The INFB also collected prices for other frequently served Thanksgiving items and found that consumers can expect to pay $ 11.13 for a 4-pound ham, up from $ 10.60 in 2020.
Three items on the shopping list are more expensive in Indiana this year than nationally, including a 16-pound turkey, stuffing, and pie crusts. Alternatively, most of the items on the shopping list were below the national average, including sweet potatoes, whole milk, whipping cream and peas.
The INFB’s Thanksgiving Market Basket Survey was conducted in late October / early November by volunteer shoppers across the state who collected prices for specific food items at one of their local grocery stores. Volunteer buyers were urged to seek the best possible prices, without taking advantage of special promotional coupons or shopping offers. The Indiana survey was conducted in conjunction with a national survey administered by the American Farm Bureau Federation.