Deflation Alert: Thanksgiving Dinner Cost Falls For Third Straight Year

While we are sure this deflationary impulse would strike fear in the hearts of every central banker, there's good news for American families this Thanksgiving - the cost of a turkey feast has fallen for the third straight year.

As Statista's Niall McCarthy notes, the American Farm Bureau has found that the classic ingredients for a Thanksgiving dinner to feed 10 people will cost $48.90 in 2018. That's less than $5 per person and a 22 cent decrease on the 2017 average of $49.12.

Infographic: Thanksgiving Dinner Cost Falls For Third Straight Year  | Statista

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An estimated 46 million turkeys are eaten every year at Thanksgiving and survey from the National Turkey Federation found 88 percent of Americans will be tucking into one today.

The falling price of the bird is the driving force behind the decline in the cost of the holiday dinner with a pound averaging $1.36, down 3 percent on last year. In addition to turkey, milk, sweet potatoes, green peas and a dozen rolls were all among the items seeing their cost decline.