With inflation boosting the cost of groceries 9.8% in the past year and homemade Thanksgiving meals on track to cost 20% more, many Americans are either going to order take-out or reserve a table at their favorite restaurant this holiday.

The unconventional move makes sense, given that the cost of eating out at a restaurant has risen only 5.8% in the past year.

The centerpiece of Thanksgiving dinners, turkeys, are up 21%, with the average bird costing $28.96. Also, the price of making dishes typically served at a Thanksgiving feast are up nearly as much, 20%, according to the American Farm Bureau Federation (AFBF).

The total average expense of serving a homemade Thanksgiving dinner for 10 people with 12 menu items including a turkey, stuffing, cranberries, and pumpkin pie will be $64.05 — up $10.74 from last year. That amounts to about $6.50 per person.

“If you’re wanting to forgo the hassle of cooking and washing dishes or asking guests to bring a side dish, this could be your year for a holiday spread away from home,” according to a Wells Fargo report.

The plans come with “the bonus of supporting your favorite restaurant,” the Wells Fargo report adds.


 

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