Food prices are up, but your Thanksgiving feast will cost less this year

In 2025, as inflation continues to impact grocery prices in the U.S., one surprising exception is emerging: the cost of preparing a Thanksgiving meal. According to a recent analysis by Wells Fargo, consumers can expect to spend 2% to 3% less on their Turkey Day groceries this year.

The reason behind this decrease in cost is that the foods typically used to prepare a traditional Thanksgiving meal are not the ones driving grocery inflation. While grocery prices overall rose by 2.7% in September compared to the previous year, staples like beef, bananas, and coffee were the main contributors, none of which are essential for Thanksgiving dinner.

Wells Fargo’s analysts pointed out that the increase in the Consumer Price Index’s food-at-home category is driven by protein items like beef and eggs, which are not typically part of a Thanksgiving feast. This means that consumers can find relief in the fact that the cost of a traditional Thanksgiving meal is not significantly impacted by these price increases.

Despite the general expectation of a pricier Thanksgiving grocery bill among shoppers, those who opt for store brands can expect to spend around $80 on ingredients for a meal serving 10 people. Choosing brand-name products may increase the total cost to $95. This translates to roughly $8 to $9.50 per person.

Wells Fargo highlighted some areas where shoppers will save money on Thanksgiving foods this year, including a 3.7% decrease in turkey prices, a 15% drop in name-brand frozen vegetables, a 22% decline in private-brand dinner rolls, and reductions in the prices of stuffing, gravy mix, fresh cranberries, and pumpkin pies.

In addition to these savings, major grocery chains like Walmart are offering even more affordable Thanksgiving meal options. Walmart’s $4 per person holiday dinner package is a significant decrease from last year’s $7 deal and includes 23 items this year, down from 29 items in the previous bundle. Other retailers, such as Aldi and Target, are also providing budget-friendly Thanksgiving meal options.

Overall, despite the ongoing inflation affecting grocery prices, consumers can still enjoy a traditional Thanksgiving meal at a reasonable cost. With retailers offering affordable meal packages and prices dropping for key Thanksgiving ingredients, families can celebrate the holiday without breaking the bank.