How to save on Thanksgiving dinner with soaring prices

New data predicts your Thanksgiving meal will cost about 13.5% more compared to last year. Here are some ways to save. (Credit: KIVI, CNN Newsource)
Published: Nov. 14, 2022 at 9:14 AM HST
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(CNN) - Soaring food prices at the grocery store, extreme weather conditions and now the highly contagious avian flu are all impacting what is available and for how much at turkey farms.

“Our world is changing. There’s a lot of supply chain issues. There’s a lot of new diseases,” Cabalo Orchard And Gardens owner Cathy Cabalo said.

It is all driving up the price of your favorite Thanksgiving dishes.

According to market research firm, IRI, your meal this year is predicted to cost about 13.5% more compared to last year.

Items including the turkey, the dressing and even the pie will cost you more.

“The price of turkey is up about 40 cents a pound year over year, which is significant if you’re buying a big bird for a big family.” hermoney.com CEO Jean Chatzky said.

She added that you shouldn’t skip the turkey though, because it can feed you for a week.

“You make a turkey pot pie for the second night. You make turkey sandwiches (for) lunch,” she said.

Chatzky also has five more recommendations.

  • Buy frozen over fresh because frozen items are often cheaper, and you can save for later.
  • Look for swaps like canned items instead of making them fresh from scratch.
  • Shop around. Don’t be too loyal to one store. Go where the deals are.
  • Save on alcohol by stretching it out and serving spritzers and punch instead.
  • Assign side dishes for others to bring.

“Assign the drinks. Assign the desserts, and it cost(s) each individual person a lot less and (doesn’t) bust the budget for anybody,” Chatzky said.