High food prices are reportedly affecting some Thanksgiving plans

Many Thanksgiving hosts will adjust their plans and shopping habits this year to account for high food costs, according to two national industry reports released this week. But the holiday’s importance to consumers means that plenty of feasts and celebratory gatherings remain on the table for many.

“If they’re hosting, it’s because it’s something that’s a big part of their family or cultural tradition,” said Justin Cook, research director for U.S. consumer products at Boston-based Deloitte. “So there is a certain resilience to continue celebrating even in the face of the high costs.”

The vast majority — 75 percent — of the 1,200 people Deloitte surveyed Oct. 16-22 plan to host or attend a Thanksgiving gathering, according to the report. Another 16 percent are not sure whether they will do it. But of nearly one in 10 who said they wouldn’t, 40 percent attributed their decision to higher food costs another 35 percent cited general financial concerns.

Food prices remain significantly elevated compared to pre-pandemic levels. However, turkey prices fell this year for the first time since 2018, according to a Globe analysis of food price data from the Bureau of Labor Statistics, which tracks average price changes in U.S. cities. Last year, turkey and gravy prices rose about 7 percent. Turkey had already experienced a price increase of 11.3 percent in 2020.

In 2022, as inflation raged across the country, prices for most Thanksgiving staples rose more than 15 percent, the analysis found. Price fluctuations in recent years have been far more volatile than those in previous years.

Cook said many consumers were suffering from an “inflation hangover.” Food inflation has slowed significantly, but “it certainly doesn’t feel like it.”

“People are still comparing what they’re paying now to what they were paying before the pandemic, and that’s a 26 percent increase,” he said.

A separate report from FMI, a food industry association, suggests that so will consumer concerns about high prices Encourage them to buy store brands and look for sales during the holiday season.

“We are seeing many shoppers willing to manage their holiday spending very strategically,” said Steve Markenson, vice president of research and insights at FMI, “focusing their spending on special meals and holiday essentials while being cognizant of their budget constraints.” “

According to the Deloitte survey, hosts plan to invite about ten guests on average, with some people trimming the guest list to save costs. Of those making less than $50,000 a year, 41 percent plan to invite fewer guests than in the past, compared to 24 percent of those making over $100,000 and 34 percent of those with incomes between $50,000 and 100,000 $100,000.

According to Deloitte, about 92 percent of those who plan to attend a Thanksgiving gathering bring a dish, spending an average of about $47.

This is a welcome contribution for hosts, who reported an average budget of $260 for a holiday event, according to the survey. Nearly half plan to ask their guests to bring something to offset the cost of entertaining. About half of respondents making less than $100,000 a year expressed concerns about the cost of hosting a gathering, compared to just 36 percent of those making at least six figures.

According to Deloitte, Thanksgiving staples cost significantly more last year than in 2019. A 16-pound turkey cost 31 percent more, the cost of pumpkin pie mix was up 34 percent and pie shells cost 39 percent more. Fillings rose 41 percent and rolls cost 54 percent more.

This year, buyers may feel some relief, even though data on this year’s prices is still available, Cook said.

“Given that people are a little more cautious this year because of food prices, I think this is an important reminder of the spirit of the holiday itself,” Cook said. “I would say if you are someone who is in a position to either donate a meal to a food bank or maybe invite that guest you were on the fence about, then if you can afford it, do it.”

Stella Tannenbaum can be reached at [email protected]. Neena Hagen can be reached at [email protected].