Thanksgiving is a time to be grateful and thankful. Most families will gather around the table and share what they are thankful for this year.

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Even though there is always something to be thankful for, the cost of the meal on the table will be a punch to the wallet.

It probably won't come as a surprise, but your Thanksgiving Dinner will cost you more this year.

The good news about Thanksgiving dinner is that your turkey will cost less this year.  The cost of turkeys is 16% lower this year than last year.

Food Bank Hands Out Turkeys Ahead Of Thanksgiving

Also, fresh cranberry prices have dropped by 20%, but your canned cranberry went up by 60%.

The cost of the rest of your Thanksgiving meal will be higher:

Last year's Thanksgiving Meal was $65.05 which was $11 higher than 2021.  However, you can expect to be paying much more this year.

Looking for a ham on your Thanksgiving table this year, you're going to be paying about $4.56 per lb, which is up 5.2% from 2022.

Holiday glazed sliced ham on dinner table for Thanksgiving or Christmas

All the other things you will need for the meal like, green beans, potatoes, and pumpkin, will be higher.

Wells Fargo researched the prices now vs. last year. Here's a few statistics

  • Canned Green Beans: Up 9%
  • Potatoes: $1.17 per pound - 9 cents higher than last year
  • Sweet Potatoes: Up 4% from last year
  • Canned Pumpkin: the cost of pumpkin has jumped 30% since last year.

Looking to save at your table this year:

In addition to your turkey and fresh cranberries being cheaper this year, salad will be affordable.   Lettuce products are down 10% from last year.

The best advice is to pay attention to the sales and use coupons if you can find them, but keep in mind you won't find huge discounts this year.

You could always opt to let someone else cook or go out to eat, you might be saving more money that way.

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