Filled with laughter, good food, and heart-warming conversation, Thanksgiving is a holiday centered on all things family. Dating all the way back to 1621, this festive celebration originally began to signify a successful and fruitful fall harvest. Today we enjoy this day of thanks to remember all the blessings and loved ones in our life.
Many things have changed since 1621, or even since 1916! We wanted to see what this holiday may have looked like over the past century, to visualize how traditions and costs have changed through the years.
There are several factors when determining the cost of a Thanksgiving celebration. Today the average feast runs approximately $49. This includes a 16-pound turkey, stuffing, sweet potatoes, rolls with butter, peas, cranberries, carrots, celery, pumpkin pie with whipped cream, and coffee with milk. However, back in 1916 this meal cost approximately $6.81, but keep in mind, the turkey then cost $4.48, or $99.23 in today’s standards.
In the tables depicted below, you can see how the costs have changed over the course of the last century with the help of inflation. While the costs depicted on the left showcase the deflation process of our costs today, the right visualizes what the typical Thanksgiving feast could cost now, if the prices of food had remained stagnant.
Cost of Today’s Feast Cost of Past Century’s Feast
1916 – $2.21 1916 – $6.81
1926 – $3.59 1926 – $11.06
1936 – $2.82 1936 – $8.68
1946 – $3.96 1946 – $12.18
1956 – $5.52 1956 – $16.99
1966 – $6.58 1966 – $20.24
1976 – $11.55 1976 – $35.55
1986 – $22.24 1986 – $68.47
1996 – $31.84 1996 – $98.03
2006 – $40.92 2006 – $125.95
2016 – $49.00 2016 – $150.84
At Iowa State Bank, we love learning about holidays and their history. It’s easy to see now how $6.81 can really add up! If you put those dollars in today’s standards, food costs would be astronomical! Can you imagine paying over $100 for just your turkey? This year the average cost per pound is about 93 cents, so for a 16-pound turkey, you should expect to pay around $15. Now that’s something to be thankful for!
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