Monthly Economic Report: Cost of Thanksgiving Dinner for Philadelphians Up Slightly This Year

Audit Date: November 20, 2012
Audit Categories
  • Financial
Controller: Alan Butkovitz

Executive Summary

For Immediate Release:
November 20, 2012

Contact: Brian Dries

Cost of Thanksgiving Dinner for Philadelphians Up Slightly This Year
City Controller’s economic report reviews rising food prices in Philadelphia

October 2012 Economic Report

PHILADELPHIA – With the cost of groceries rising across the United States, Philadelphians can expect to pay slightly more this year to purchase food for a traditional Thanksgiving dinner, according to City Controller Alan Butkovitz’ economic report released today.

A minimum menu Thanksgiving dinner for a family of 10 in Philadelphia will average $48.42 compared to $47.74 last year, an increase of $0.68. While Philadelphians will be paying more this year for their holiday dinner, the total cost is still $1.06 less than the national average.

A few food items on the menu have decreased from last year, but the items that will cost more this year include the following:

Bread Rolls (dozen) – $0.91 increase
Fresh Cranberries (12 oz) – $0.33 increase
Pie Shells (2) – $0.33 increase
Cubed Stuffing (14 oz) – $0.25 increase
Green Peas (1 lb) – $0.14 increase

The City Controller’s Thanksgiving cost analysis was conducted by averaging the retail prices of food items for a traditional Thanksgiving meal from various grocery stores within the City of Philadelphia. Price increases for the current year were compared to the Thanksgiving meal cost analysis included in the Controller’s 2011 October economic report.

Along with a snapshot of this year’s holiday dinner costs, the Controller’s economic report indicates that sales tax revenues for the month totaled $19.8 million, which is a two percent increase from October 2011 collections. The report also highlights the latest regional manufacturer’s survey from the Philadelphia Federal Reserve that indicated declines in almost all indicators of general activity.

The Controller’s economic report is compiled on a monthly basis and includes an Economic Snapshot and Forecast, as well as real estate information and other local statistics. These reports are circulated every month to assist key decision makers in understanding and anticipating local and national economic trends. The Controller’s economic report is a useful tool for policy makers and analysts in understanding our regional and local economy.