The price of a Thanksgiving dinner in Virginia this year will cost on average about 6% less than last year’s meal, largely thanks to lower turkey prices.
The ingredients for a traditional meal to feed 10 adults costs $60.33, down $3.91 from last year’s average of $64.24, according to the Virginia Farm Bureau Federation’s annual grocery store price survey.
It is the first decrease since 2016, the group says.
Part of the reason for the decline is a 15.1% drop in turkey prices in Virginia. The average cost of a 16-pound turkey at grocery stores in Virginia was $22.42, or about $1.40 per pound, according to the Virginia Farm Bureau. The 2019 average was $1.65 per pound.
Nationally, prices for a 16-pound bird have fallen about 7% from last year, according to the American Farm Bureau Federation.
The cost of ingredients for a turkey dinner for 10 people nationally is down to the lowest level in a decade, the group said.
“Pricing whole turkeys as ‘loss leaders’ to entice shoppers and move product is a strategy we’re seeing retailers use that’s increasingly common the closer we get to the holiday,” said John Newton, chief economist for American Farm Bureau Federation, which has been surveying retail prices ahead of the holiday since 1986.