Thanksgiving and the holidays aren't cheap and for local resident Brenda Lunceford, this year’s meal for seven could cost her about $200.
She says even the cost of making homemade pies has gotten more expensive.
“Ingredients to make a pie or whatever, it might be less expensive to buy a pie. I'm looking at how much things are costing," Lunceford said. "It's going to be a little more.”
A new report from the Wells Fargo Agri-Food Institute found that the total cost of a traditional Thanksgiving meal for 10 with name-brand products is $90 — which is half a percent lower than last year.
However, the same meal with store-brand food costs $73, up 2.7% from last year.
“I'm counting on sales," Lunceford explained. "I always wait till about now, and sometimes I run an early one.”
Despite the difference, the store-brand and name-brand gap is narrowing so it could benefit consumers to mix and match. With historically high grocery prices in effect, people like Tracy Macias know they will be paying more during the holidays.
“Always around the holidays, they jack the prices up a little bit because everyone's going to buy it.”
Popular holiday menu item prices, differences
1. Turkey
- The Wells Fargo Agri-Food Institute report says name-brand turkey prices have declined 2% from 2023. Store-brand birds, on the other hand, have increased by 5%. The latter are still cheaper by a few dollars, the report says.
2. Stuffing
- Store-brand stuffing is still the way to go, with prices up just 3% compared to a year ago. Name-brand is up 9%.
3. Salad
- There is not much price movement year over year when it comes to pre-packaged salads. Store-brand salad is cheaper by about $3.
4. Cranberry
- Name-brand is, perhaps surprisingly, the lower-priced option despite owning a larger share of cranberry sales.
5. Dinner rolls
- Both name-brand and store-brand rolls are up 3% from a year ago, the report says. There's almost a $4 difference between the two, with the store brand providing those savings. The report notes significant quality differences between the two, though, in some categories.
6. Pumpkin pie
- The report says the two are essentially the same for an 8-inch pie.
