INDIANAPOLIS — Groceries seem like they are still on the rise, but a new survey from the Indiana Farm Bureau's annual Thanksgiving Market Basket says that prices are pretty close to what they were last year.
Hoosiers can expect to pay about $53.62 on average for a Thanksgiving dinner for 10 people this year, which is roughly $5.36 per person and a 0.6% increase (about 3 cents per person) from last year. Residents we spoke with about the survey feel that can't be the case, because prices seem higher than they used to be.
"I don't see them getting better anytime soon, so it's going to definitely cost more,” James Guthrie, a northwest side resident, said.
The Farm Bureau’s annual Thanksgiving Market Basket Survey found some items rose in price — including pumpkin pie filling, pie shells and sweet potatoes — while others, such as turkey, rolls, whipping cream and cranberries, declined. From a national perspective, Indiana’s market basket price is about 3% lower — roughly 16 cents less — than the U.S. average of $55.18, or $5.81 per person.
Todd Davis, chief economist with the Indiana Farm Bureau, said produce price increases helped drive the modest overall rise.
"The transition from the food inflation years.. It's moderating," Davis said. "But with anything, when you are dealing with inflation, it can be a bit persistent. "
The Farm Bureau’s report is based on the least expensive option available at the store, which often is private-label or generic items. The shoppers we spoke with say they can't always buy generic products because they aren't the same quality, especially for a special occasion like Thanksgiving.
"You can't really buy generic for everything, especially when you are looking at the ingredients, so that's really important to me when I am shopping,” Tonya Russell, a northwest side resident, said.
The Farm Bureau’s market basket includes a 16-pound turkey, stuffing, sweet potatoes, rolls, peas, a carrot-and-celery veggie tray, whole milk, cranberries, whipping cream, ingredients for pumpkin pie and miscellaneous baking items.
The USDA estimates that farmers receive about 15.9 cents of every retail food dollar; the farmer’s share of the $53.62 market basket would be approximately $8.53. You can find a breakdown of costs below.
