Monthly Economic Report: Philadelphians Can Expect to Pay More This Year for Thanksgiving Dinner

Audit Date: November 23, 2011
Audit Categories
  • Financial
Controller: Alan Butkovitz

Executive Summary

For Immediate Release:
November 23, 2011

Contact: Brian Dries

Philadelphians Can Expect to Pay More This Year
for Thanksgiving Dinner

City Controller Alan Butkovitz highlights the rising cost of food
& looks at City revenue collections in latest economic report

Click here to view economic report

PHILADELPHIA – As families anticipate the annual expenses associated with the holidays, Philadelphians can expect to pay $5.44 more this year to purchase food for a traditional holiday 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 cost $47.74 this year, compared to last year’s price tag of $42.30. The $5.44 increase is largely due to a 22 percent increase in the cost for a 16-lb turkey – from $16.46 in 2010 to $20.11 this year.

Along with the higher cost for a turkey, other food items and their price increases that Philadelphians can expect this year include the following:

Whole Milk (1gal) $.49 increase
Pumpkin Pie Mix (30oz) $.42 increase
Cubed Stuffing (14oz) $.21 increase
Green Peas (1lb) $.20 increase
Rolls (12) $.14 increase

While Philadelphians will be paying more this year for their traditional Thanksgiving meal, the total cost is almost $1.50 less than the national average of $49.20.

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 2011 that were determined by the American Farm Bureau Federation were then applied to the costs for food items in the City.

Along with a snapshot of this year’s holiday dinner costs, the Controller’s economic report also includes tax revenue collections (City & PICA) which totaled $183.5 million, a 10 percent increase from the same month last year. Monthly sales tax collections totaled $19.4 million, which was the same amount collected in October 2010.

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.