How Much More $ Will You Have To Fork Over For Thanksgiving Meal

A trip to the grocery store is already a strain on many family budgets but what can consumers expect to pay for the Thanksgiving spread this year?

Prices are forecast to be 2.4% over Thanksgiving 2022 but the price of last year's list of Thanksgiving staples skyrocketed over 11% above 2021 prices, according to industry analyst Phil Lempert, CEO of Supermarket Guru.

To relieve the sticker shock for families, Walmart has already announced plans to fight inflation and keep this year's Thanksgiving meal more affordable by actually dropping prices.

John Fulmer, CEO at Walmart told ABC News Good Morning America that Walmart kept 2022 prices the same as in 2021.

This year Fulmer says Walmart will drop prices for a Thanksgiving basket of ingredients to feed 10 people by about $2 from last year to around $70, starting Nov. 1st.

According to Moody's Analytics, inflation is up 3.7% from last year, costing the typical family about $235 more each month for goods and services.

USA TODAY has reported that inflation has fallen this year since hitting a 40-year high of 9.1% in June 2022. But the 3.7% inflation in September remains above the Federal Reserve's 2% target.

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American Farm Bureau has tracked the cost of a Thanksgiving meal for 10 over the last three years;

2020 at $46.90
2021 at $53.91
2022 at $64.05

Experts are suggesting consumers shop as early as possible for Thanksgiving meal ingredients that won't spoil and consider generic or store brand versus the major name brands.