Mixed reports on Thanksgiving cost; down in Arkansas, up in U.S.

The Arkansas Farm Bureau’s annual Thanksgiving meal survey shows it will cost about 2.8% less than last year.

Nationwide, the average price for the Thanksgiving meal cost is up about 1.3%, according to the American Farm Bureau Federation. AFBF’s 25th annual informal price survey of classic Thanksgiving food items indicates the average 2010 cost for 10 is $43.47, a 56-cent price increase from last year’s average of $42.91. The 2010 meal average is actually $1.14 cheaper than what shoppers paid two years ago (2008), when the total was $44.61.

The nationwide average in 2010 is up 51.25% from 1986 when the average meal cost $28.74.

In Arkansas, a family of 10 will spend $39.61, or just under $4 per person, for this year’s Thanksgiving meal, which includes turkey, brown-and-serve rolls, frozen green peas, cranberries, pumpkin pie mix, frozen pie shells, sweet potatoes, carrots, celery, milk, and a half-pint carton of whipping cream.

The cost of this year’s meal is down $1.14 from last year’s average of $40.75. In 2008, the cost peaked at $40.97.

The statewide average is based on responses from nine members of the state Arkansas Farm Bureau Women’s Committee, who surveyed food prices at supermarkets across the state. They were asked to report the “best in-store price” of 12 items included in the meal and are allowed to take advantage of advertised specials, excluding discount coupons and purchase requirements.

“With the average cost of the meal down nearly three percent, this demonstrates a continuation in the softness of general economic conditions across the country,” Travis Justice, Arkansas Farm Bureau chief economist, said in a statement. “These results show that overall food price inflation is stabilizing for many items on the shopping list, at least for the time being.”

The Arkansas Farm Bureau has surveyed the cost of items included in the meal for the past 25 years. Though the overall cost of living has risen during that time, Arkansas Farm Bureau president Randy Veach says the fact Arkansans may still prepare and enjoy the meal for around $4 per person is remarkable.

“After rising the past several years, the fact that the cost of the traditional Thanksgiving dinner is down more than a dollar is a testament to the efficiency of our nation’s farmers and food production system,” said Veach.

In Arkansas, the average price of a 16-pound young tom turkey this year is $13.60 or 85 cents per pound, down from $16.58 or $1.04 per pound in 2009. Justice says it appears many retail outlets are discounting the price of their “store-brand” frozen turkeys to attract more shoppers.

The Arkansas survey period was Oct. 29 – Nov. 8. The shopping list has remained unchanged since 1986 to allow consistent price comparisons. Though unscientific, the survey is intended to be a gauge of actual price trends across Arkansas and the nation.

For the nationwide survey, more than 112 volunteer shoppers from 34 states helped teh American Farm Bureau collect data. The American Farm Bureau includes this note with its report: “The AFBF survey was first conducted in 1986. While Farm Bureau does not make any scientific claims about the data, it is an informal gauge of price trends around the nation.”