Holiday Meal Costs Rise as Food Prices Increase in 2024

Americans face higher prices for Christmas dinner staples and holiday treats, driven by inflation and supply challenges.

Expana's Christmas Dinner Index shows a 2.4% increase in the cost of holiday meals compared to 2023, with meat and vegetable prices contributing to the rise.
The Main Meal Index, tracking items like pork, lamb, shrimp, and sweet potatoes, rose 2.3% year-over-year, while turkey prices dropped 13.7%.
The Gingerbread Index, which measures holiday baking staples like eggs, sugar, and spices, surged 5.5%, with egg prices nearly doubling from last year.
Inflation remains above the federal target, with November's Consumer Price Index showing a 2.7% rise and food prices up 0.4% from the previous month.
Despite higher costs, consumer spending on holiday food, gifts, and decorations is projected to reach record levels, averaging $902 per person.