Wells Fargo Study: Thanksgiving Day Dinner Coming Down Slightly In Prices This Year

By Drew Dixon

With only two and a half weeks left before Thanksgiving Day, Americans are gearing up to buy goods for dinner on that autumnal holiday and it might cost less to purchase the supplies for that feast.

Wells Fargo published a study that shows the cost of a 10-person dinner on Thanksgiving Nov. 25 is starting to slide a bit by about 2% to 3%. The financial institution’s study published in the past week indicates a dinner for family and friends on the holiday would likely cost around $80, a decrease compared to 2024. But there are some conditions to consider.

“An all private-label (store brand) menu comes in at $80, while an all national-name brand menu totals $95. Budget conscious consumers will also have room to mix and match based on preference,” the Wells-Fargo analysis concluded.

Of course, the lower prices are translating into political fodder. At the White House, President Donald Trump’s administration is seizing on the lower prices.

“It’s proof that under President Trump’s leadership, America is winning the war on high prices — even as Democrats grind the country to a halt with their deranged, reckless government shutdown,” said a White House news release.

A key element to the lower price of Thanksgiving dinner is the cost of turkey. The study found retail turkey prices are down about 3.7% from a year ago for national brands.

“The turkey industry takes orders from the supermarkets months in advance for Thanksgiving. It looks like producers picked the right number of birds to prepare, and the price reflects the lower cost of feeding turkeys in a competitive market. While turkey is the clear winner for the centerpiece of the table, if guests are not fans of the bird, roast chicken and spiral cut ham are other moderately priced proteins to consider when feeding a crowd,” the Wells-Fargo report said.

Across the board, other foods and supplemental dishes for Thanksgiving dinner are also costing less. National brand frozen vegetables are estimated to cost 15% less this year. Cranberries, gravy, rolls and pumpkin pie are also down 22%, but that’s for the private-brand choices of those foods. Mashed potatoes are down by about 1.5%.

There are some elements of Thanksgiving Day dinner that cost a bit more. Salad mixes increased about 0.3% with whipped cream up 3%.  Beer is also up by 3%, though wine is about stable with a 0.1% drop from a year ago and soft drinks are falling by about 3% from a year ago.

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