Key takeaways

• Inflation has a seat at the table this year, with overall “food at home” prices increasing 2.7% year-over-year, according to the Consumer Price Index.
• Americans are willing to trade tradition for savings, switching up their Thanksgiving menus, servings, and shopping habits to save on costs.

Will Thanksgiving take a bigger bite out of consumers’ wallets this November? That depends on what’s on the menu. Empower research reveals some 57% of Americans say they’re being “priced out” of their own kitchen, with groceries too expensive to cook for the holiday at home. Nearly half (47%) are trading turkey for cheaper alternatives; 38% will swap for chicken, and a third say they’ll opt for burgers, pizza, or fast food to keep costs down.

Empower’s analysis shows the price of a traditional Thanksgiving spread for 10 people totals $73.09, though the final bill depends on where you shop, what you serve, and how many guests are at the table.

How prices stack up against last year

According to the U.S. Bureau of Labor Statistics, the Consumer Price Index (CPI) for “food at home” increased by 2.7% between September 2024 and September 2025.¹

According to September’s CPI, potatoes are the part of the plate with the biggest price hike, climbing 3.7% year-over-year. Turkey is also up 0.6% this year, while chicken increased just 0.1% — potentially providing a cheaper alternative for the half of Americans willing to swap the big bird for a smaller one.

Still, some Thanksgiving menu items could be a bright spot among shoppers’ grocery lists. In September, prices for spices (0.4%), ready-made pies (0.2%), and rolls (0.1%) slightly decreased month-over-month, despite being up year-over-year.² Apples fell 1.8% between August and September, though the cost of a homemade apple pie might depend on which variety makes the dish. The beloved Honeycrisp still carries a premium at $2.16 per pound, earning its reputation among farmers as a delicious but high-maintenance.^3,4

Read more: Inflation at 3%: Shelter cools, healthcare costs rise

Tallying turkey day favorites

An Empower analysis finds that a traditional holiday meal for 10 can come in at under $75, with a full spread of popular dishes totaling $73.09.⁵ Yet that’s far below what consumers expect to spend: Americans estimate an average Thanksgiving bill of $137, and younger generations anticipate even steeper tabs — Gen Z ($176) and Millennials ($169) — compared with Gen X ($135) and Boomers ($90).

Reading the Thanksgiving receipt

• 16-pound turkey: $31.68 or $1.98 per pound
• 12-ounce bag of cubed stuffing mix: $2.68
• 2 frozen pie crusts: $2.68
• 1 pint of whipping cream: $2.96
• 1 dozen dinner rolls: $1.38
• 30-ounce can of pumpkin pie mix: $3.98
• 3 pounds of granny smith apples: $3.97
• 20-ounce bag of sugar: $2.12
• 1 gallon of whole milk: $3.27
• 3 pounds of sweet potatoes: $3.46
• 2 12-ounce bags of fresh green beans: $4.94 (total)
• 12-ounce bag of fresh cranberries: $1.42
• 1 pound of butter: $3.67
• 5 7.25-ounce mac-n-cheese boxes: $4.88

Grand total: $73.09 (excluding sales tax)

Turkey trade-off

Wholesale turkey prices are roughly 40% higher than last year, averaging around $1.32 per pound.⁶ But some large frozen turkeys are listed for as little as $0.84 a pound, reflecting seasonal discounts, loss-leader pricing by grocers, and differences between wholesale data and retail shelf prices.⁷

But for some, the big bird isn’t the ultimate holiday meal. Fifteen percent of people are choosing cheaper cuts of meat or non-traditional proteins, while 1 in 10 say it’s the year of the side dish and don't plan on serving a main protein, according to Empower research.

Serving up savings

Households are trimming costs beyond the bird, too: Nearly a quarter (23%) plan to cook fewer desserts, 22% are cutting portion sizes, and 16% are trading name brands for store labels. Major retailers are also offering budget-friendly options for shoppers to stretch their dollars.

Walmart unveiled its "one-click Thanksgiving meal basket"  that serves 10 people for less than $40.⁸ It comes with over 20 national and private brand items, including a Butterball turkey. Inspired by customer feedback, the brand will also launch gluten-free and high-protein options this year. Aldi is also bird-watching this year, bringing its feast for 10 to $40, down from $47 in 2024.^9,10

Those hoping to spice up their Thanksgiving menu could opt for Popeye’s fully-cooked and frozen Cajun-style turkey for $54.99 and complete the meal with a side of homestyle mac and cheese, mashed potatoes with Cajun gravy, and buttermilk biscuits — all available for an additional price.¹¹