High cost of Thanksgiving 2021 stresses Americans out
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Signal
Nov 23, 2021
High cost of Thanksgiving 2021 stresses Americans out

For Thanksgiving 2021, rising inflation and ongoing supply chain issues are raising the cost of holiday celebrations. This adds to the concerns of those already hit hard by the pandemic, giving brands room to help people manage their holiday spending during the potentially stressful time.

Data from the American Farm Bureau Federation (AFBF) estimates that a Thanksgiving meal will, on average, be 14% more expensive in 2021 than it was in 2020. The figure was calculated based on how much it would cost to feed a group of ten, resulting in a total meal cost of $65.42 – up from around $55. Several macro-economic factors have led to this increase, with AFBF senior economist Veronica Nigh pointing to “dramatic disruptions to the US economy and supply chains ... inflationary pressures ... difficulty in predicting demand ... and a high global demand for food,” with many people taking up cooking due to the stay-at-home restrictions during the pandemic.