Across the state families won’t see much of a change in cost relating to their Thanksgiving dinners. Indiana Farm Bureau Chief Economist, Dr. Todd Davis, stated “Although overall food inflation has decreased, a driver of the marginal increase in price of this year’s basket is the increase in price of some produce.”
Indiana Farm Bureau’s Thanksgiving market basket shows Hoosiers are paying an average of $53 for a dinner to feed 10 people. This is a 0.6% increase from last year. Compared to the national prices, Indiana’s Thanksgiving meal is approximately 3% lower than most states.
The increase in retail prices reflect an increase in factors beyond the farm including transportation, labor, fuel, packaging, and much more. Some products that remain more affordable include rolls, whole milk, stuffing, and cranberries.
Indiana ranks fourth in turkey production containing more than 8.4 million turkeys in the state.
“It is important to remember that the turkey accounts for about 39% of the Thanksgiving dinner,” said Dr. Davis. “And with Indiana in the heart of turkey production and retail turkey prices down, it isn’t surprising that the turkey is more affordable this year, specifically here in Indiana.
Farmers are constantly finding ways to streamline their operations to produce the most affordable products not only for Thanksgiving dinners but year round.
