If you noticed that your Thanksgiving preparations cost you a little more than last year, you're not alone. According to the American Farm Bureau Federation, American households will lay out $49.48 on Thanksgiving dinners this year, which adds up to an increase of 28 cents more than we spent last year.
The biggest factor driving the price increase is the turkey itself. The average cost of a 16-pound turkey rose from $21.57 in 2011 to $22.23 this year. On the other hand, the price of three pounds of sweet potatoes is down 11 cents, and a half pint of whipping cream is down 13 cents.
The Farm Bureau Federation added up the cost for an entire meal, and found that a Thanksgiving dinner still costs less than $5 per person. That's still a relative bargain, and something to be thankful for.
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