The Turkey Standard

November 13, 2010, 6:00 pm

In case you don’t like the CPI:

Turkey and the trimmings won’t cost much more this year than last, according to the Virginia Farm Bureau, but some Virginians think the estimate is missing some important ingredients for a feast.
The bureau says it should cost $43.39 to serve a 16-pound turkey, stuffing, sweet potatoes, rolls, cranberries and peas for 10 adults. The price also includes a tray of carrots and celery, as well as pumpkin pie with whipped cream.
Virginia officials say its survey of grocery stores indicates all that food will cost on average 1 cent more this year than it did last year, when the cost of Thanksgiving dinner fell for the first time in three years.
In comparison, the American Farm Bureau said the average national cost of Thanksgiving dinner this year is $43.47, a 56-cent price increase from last year. [that's a 1.3 percent rise -- PK] The survey was first conducted in 1986 and is intended to be an informal gauge of price trends around the nation.

Hyperinflation!

Va. Farm Bureau says Thanksgiving costs stable

By MICHAEL FELBERBAUM

RICHMOND, VA.

Turkey and the trimmings won't cost much more this year than last, according to the Virginia Farm Bureau, but some Virginians think the estimate is missing some important ingredients for a feast.

The bureau says it should cost $43.39 to serve a 16-pound turkey, stuffing, sweet potatoes, rolls, cranberries and peas for 10 adults. The price also includes a tray of carrots and celery, as well as pumpkin pie with whipped cream.

Virginia officials say its survey of grocery stores indicates all that food will cost on average 1 cent more this year than it did last year, when the cost of Thanksgiving dinner fell for the first time in three years.

In comparison, the American Farm Bureau said the average national cost of Thanksgiving dinner this year is $43.47, a 56-cent price increase from last year. The survey was first conducted in 1986 and is intended to be an informal gauge of price trends around the nation.

But 54-year-old Cynthia Schmidt, of Glen Allen, said the farm bureau is leaving out some important elements like drinks and appetizers, as well as the traditional casseroles that grace dinner tables every year.

"That's kind of the bare minimum, but nobody does that for Thanksgiving," said Cynthia Schmidt, who typically spends about $100 to cook Thanksgiving dinner for about eight people, much higher than the farm bureau's estimate. "Sure you could do it for that, but I think people sitting around the table would be pretty disappointed."

Still, the farm bureau said consumers who are willing to hunt for good deals can find bargain prices for their Thanksgiving dinner. More importantly, Virginians can have a traditional meal for their families at a relatively low cost.

Consumers are "still not comfortable with the habits that we had prior to 2008," said Jonah Bowles, a market analyst with the Virginia Farm Bureau. "When we as a consuming populous are not very comfortable with that, then the retailers have to keep their prices down."

Of course, where you get your food makes a difference. The bureau says the highest average cost was in Pound in Wise County, where dinner for 10 would cost $52.36. Bristol has the cheapest eats at $33.18.

When it comes to the bounty the bureau uses to figure the cost of a Thanksgiving meal, Bowles said the group uses the same meal every year to give meaningful cost comparisons.

"Everyone's got their idea of what a good Thanksgiving meal consists of," Bowles said.