Spending more on Thanksgiving this year

Mike Dang | 07:37 PM, Monday, November 14, 2011

Groceries

Photo by tuchodi

Every November we let take a break from watching what we eat and let ourselves feast on turkey, stuffing and pumpkin pie on Thanksgiving. Despite having to shell out for a big shopping trip at the supermarket, there's always plenty of leftovers, which means no need to go food shopping in the days following.

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Moneyland reports that American households will be spending 13 percent more on their Thanksgiving dinners this year due to slight increases in food prices.

A 16-pound turkey, for example, is averaging $21.57 this year, up about 25 cents per pound, or $3.91 per turkey. The AFBF says rising turkey prices are due to stronger consumer demand domestically and abroad.

The price of a frozen turkey has jumped noticeably since Thanksgiving 2009, when turkey prices were lower than usual, according to the Consumer Price Index. Here's what the price of a frozen turkey has looked like during the last six years:

Overall, a slight price increase won't stop consumers from their feasts this year. And for those who want to spend more, there's always a $400 Thanksgiving dinner being sold somewhere.