The American Farm Bureau’s 40th annual survey shows the cost of a traditional Thanksgiving dinner has dropped to its lowest level since 2021.

The organization reported Thursday that a classic holiday meal for 10 people will cost $55.18 this year, a decrease of five percent compared to 2024.

The annual survey, conducted since 1986, relies on volunteers across all 50 states and Puerto Rico who record local prices for a set list of traditional items.

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Those items include turkey, cubed stuffing, sweet potatoes, dinner rolls, frozen peas, fresh cranberries, celery, carrots, pumpkin pie mix and crusts, whipping cream, and whole milk.

According to the Farm Bureau, prices rose sharply in recent years.

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Inflation accelerated to its fastest pace in four decades during the presidency of Joe Biden, pushing the cost of the standard Thanksgiving meal up 14 percent in 2021 to $53.31.

The following year saw an additional 20 percent increase, bringing the price to $64.05.

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By Biden’s final Thanksgiving, the survey found that the cost of the traditional dinner had risen 24 percent compared with when he took office.

The Farm Bureau said this year’s overall decline was driven primarily by a drop in the price of turkey.

A 16-pound turkey will cost an average of $21.50, a reduction of 16 percent from last year.

Three other items in the fixed basket—cubed stuffing, fresh cranberries, and dinner rolls—also fell in price.

Five items increased in cost: sweet potatoes, frozen green peas, a vegetable tray including carrots and celery, whole milk, and whipping cream.

Prices for pumpkin pie mix and pie shells were nearly unchanged from 2024.

Despite the price reduction, the report noted that the cost of the full meal remains above pre-inflation levels.

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The Farm Bureau’s data continues to compare rising costs during the years of elevated inflation with the recent easing in prices.

This year’s decrease aligns with President Donald Trump’s recent remarks that Thanksgiving dinner has become more affordable for American families.

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The price decline followed predictions that trade and immigration policies under the Trump administration would lead to higher food costs, projections that did not materialize in the Farm Bureau’s findings.

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