Popular Thanksgiving Items That Skyrocketed in Cost This Year

If you'll be (safely) enjoying a Thanksgiving dinner this year, you might be facing some sticker shock at the grocery store when you go to stock up on holiday meal staples. The price of a full Thanksgiving dinner has increased by 9.2% from 2019, while the price of the main meal (ham, turkey and potatoes) has increased by 10.9%, Mintec’s 2020 Thanksgiving Dinner Index found.

Take a look at the most popular Thanksgiving foods with prices that have gone up over the past year.

Last updated: Nov. 23, 2020

Potatoes

• Price this year: $1.52/10-pound bag
• Price last year: $1.28/10-pound bag
• Change in price: $0.24/10-pound bag
• Percent increase: 19%

According to the Mintec analysis, "record potato sales in the U.S. retail market have contributed to the bullish impetus." Prices for potatoes dropped during the summer with many restaurants closed but bounced back up in the second half of the year when restaurants and schools reopened.

Turkey

• Price this year: $1.29/pound
• Price last year: $1.13/pound
• Change in price: $0.16/pound
• Percent increase: 14.9%

A decline in turkey production this past August coupled with increasing demand from Mexico and China have led to a bump in turkey prices, Mintec reported.

Wheat Flour

• Price this year: $0.15/pound
• Price last year: $0.14/pound
• Change in price: $0.01/pound
• Percent increase: 13.3%

A combination of dry conditions in top wheat-producing countries and increased global demand, particularly from China, have led to a rise in flour prices, Mintec reported. The price of wheat flour reached its highest point in October since June 2019.

Read More: How COVID-19 May Change Your Thanksgiving Dinner

Sugar

• Price this year: $0.28/pound
• Price last year: $0.26/pound
• Change in price: $0.02/pound
• Percent increase: 6%

The price of sugar reached a three-year high in October, Mintec reported. Thailand and India, two of the world’s top three sugar exporters, had lower crop yields and less harvesting activities at the beginning of the year due to drought and COVID-19-related restrictions.

Ham

• Price this year: $0.64/pound
• Price last year: $0.63/pound
• Change in price: $0.01/pound
• Percent increase: 1%

Although pork prices haven't increased much since last year, they have swung dramatically throughout 2020 due to supply shortages caused by the temporary shutdowns of processing plants amid the coronavirus pandemic, Mintec reported.

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About the Author

Gabrielle Olya

Gabrielle joined GOBankingRates in 2017 and brings with her a decade of experience in the journalism industry. Before joining the team, she was a staff writer-reporter for People Magazine and People.com. Her work has also appeared on E! Online, Us Weekly, Patch, Sweety High and Discover Los Angeles, and she has been featured on “Good Morning America” as a celebrity news expert. 

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