(The Hill) — Those hosting Thanksgiving and living in the Northeast might suffer the biggest hit to their wallets this year. In the most expensive food region, the Thanksgiving haul will set you back an average of $64.38.
Trailing slightly behind are the households in the West, which will pay $63.89, noticeably more than those in the South, facing a $59.10 bill based on average prices. The least expensive food region this week is the Midwest at $58.66, according to the American Farm Bureau Federation’s Thanksgiving dinner survey.
The average Thanksgiving feast for 10 people will come out to approximately $61.17. This represents a 4.5% decline from 2022, mostly because of a drop in the price of the dinner’s centerpiece, the turkey.
The drop in price can be attributed to the recovery of the turkey flock and the decrease in avian influenza cases. On average, the turkey accounts for some 43% of the price of the whole dinner.
Americans spend less of their income on food expenditures than the rest of the 103 countries measured by the U.S. Department of Agriculture in 2022. The average U.S. consumer spends 6.7% of their disposable funds on food.
Singaporeans are next in line with 8.4%, while Nigeria has the highest food expenditure expense per citizen with 59%. In the end, this means that 2023 will likely witness the second-most expensive Thanksgiving dinner since the survey started 38 years ago.