While it may not seem like it when you’re at the supermarket checkout, Americans benefit tremendously from relatively low food prices.
Consider the typical Thanksgiving feast. According to an informal price survey conducted by the American Farm Bureau Federation (AFBF), the average cost of this year’s Thanksgiving meal for ten people is $49.41—less than $5 per person.
The AFBF survey shopping list includes turkey, bread stuffing, sweet potatoes, rolls with butter, peas, cranberries, a relish tray of carrots and celery, pumpkin pie with whipped cream, and beverages of coffee and milk, all in quantities sufficient not only to serve a family of ten, but to have leftovers.
That same meal a century ago would have been much more expensive. According to Business Insider, when adjusted for inflation the same meal for ten would have cost $167.77. One reason is that turkeys are considerably cheaper. A 16-pounder in 1911 prices would cost roughly $110 today (the AFBF says the average turkey today costs $21.65).
So when you sit down to Thanksgiving dinner on Thursday, be sure to include prayer of thank that you don’t have to spend as much of our income on food as your ancestors.