How much is a Thanksgiving meal in Indiana? Not so much this year, according to the new report. • Indiana Capital Chronicle

INFB Chief Economist Todd Davis added that the turkey itself makes up about 44% of Thanksgiving dinner. “With Indiana being at the center of turkey production and retail prices for turkeys having fallen, it is not surprising that turkey is more affordable this year, particularly in the Midwest.”

“The concentration of turkey production in this region results in lower processing and marketing costs, efficiently moving the turkey from the farm to the hands of the consumer,” Davis added.

Hoosier shoppers can expect to pay about $1.33 per pound for a whole turkey or $21.22 for a 16-pound bird. That’s about 17% cheaper than the national average of $25.67.

Pumpkin pie filling costs are also lower than in 2023.

According to the survey, the cost of a 14-ounce package of pumpkin pie filling in Indiana is $3.78, about 22% less than last year.

Pumpkin pie filling is about 9% cheaper in Indiana than the 2024 U.S. average. The USDA says Indiana ranks second in pumpkin production in the country.

Thanksgiving prices are still rising

However, some items have become more expensive.

According to the INFB survey, retail prices for cranberries, whipped cream, sweet potatoes, stuffing and vegetable tray items have increased.

Sweet potatoes, cranberries and vegetable tray items are more expensive in Indiana this year than the national average.

SSweet potatoes, in particular, cost about 18% more than the U.S. average, which Davis said could be due to sweet potato production in the southern and western regions as well as the impact of transportation costs.

Overall, Indiana consumers pay about 8% — or 48 cents — less per person to purchase meal ingredients than others across the country. The INFB said the average cost of a Thanksgiving meal in the United States is $58.08, or $5.81 per person.

Still, a Thanksgiving meal in Indiana costs 25% more than it did five years ago, reflecting a trend of post-pandemic inflation that is still affecting food prices, the INFB said.

In 2019 a meal cost $42.66, today it was $53.31.

But costs are trending downward; A Thanksgiving meal costs 27 cents less today than it did in 2021, INFB officials pointed out.

“However, Hoosier farmers are finding ways to streamline their operations and reduce production costs,” said INFB Vice President Janis Highley. “Many people don’t realize that Indiana is one of the highest producing states for turkey and pumpkins. That’s why we have many local farmers to thank for our holiday meal this year. Turkeys also consume a significant amount of soybean and corn meal, the primary commodities of the Hoosier farm, so they are also important to our state’s economy.”