Monthly Economic Report – Thanksgiving Costs Less in Philadelphia than U.S. Average


Audit Date: November 25, 2014

Audit Categories

  • Financial
Controller: Alan Butkovitz

Executive Summary


For Immediate Release
Nov. 25, 2014

Contact: Brian Dries
215-686-8869

Thanksgiving Costs Less in Philadelphia than U.S. Average
City Controller’s monthly economic report includes
4th annual cost of Thanksgiving for Philadelphians

October 2014 Economic Report

PHILADELPHIA –City Controller Alan Butkovitz today released the fourth annual cost of Thanksgiving Dinner for Philadelphians that indicates the average holiday meal will cost $46.41, saving residents at least $3 when compared to the national average.

The overall lower average cost in Philadelphia is primarily due to residents paying approximately $2.21 less for their 16-pound turkey compared to the rest of the country. Other traditional holiday meal items that are cheaper in Philadelphia include the following:

Item

2014 U.S. Avg.

2014 Philadelphia Avg.

$ Diff.

Turkey (16lb)

$21.65

$19.44

-$2.21

Sweet Potatoes (3lbs)

$3.56

$2.63

-$0.93

Pumpkin Pie Mix

$3.12

$2.65

-$0.47

Green Peas (1lb)

$1.55

$0.92

-$0.63

However, Philadelphians will pay slightly more than the national average for some items such as bread rolls, cubed stuffing, pie shells and fresh cranberries.

In addition, while the 2014 national average has increased by $0.37 over last year, Philadelphia’s total average increased by only $0.04.

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. The local prices were compared to the national averages as reported by the American Farm Bureau Federation.

The annual cost of Thanksgiving is part of the City Controller’s monthly economic report, which includes a review of revenues collected by the City. Tax revenues, for both City and PICA funds, totaled almost $205 million, a five percent decrease over last October. Additionally, monthly Wage/Earnings/NPT taxes totaled $158.6, a six percent increase over the same month last year.

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