Thanksgiving dinner costs up as food prices hit four-year high

TORONTO — Global food prices reached their highest level in nearly four years last month, according to a study from Dalhousie University’s Agri-Food Analytics Lab.

The lab found a Thanksgiving dinner for four will cost $35.72 this year, up 10 per cent from $32.48 in 2025. That estimate included a seven-pound turkey and basic side dishes.

A price comparison for a more traditional dinner for six in Toronto, completed by Oct. 5, found costs varied widely between major grocery stores.

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READ MORE: Traditional Thanksgiving turkey dinner to cost 10 percent more in Ontario

After comparing all four stores, No Frills had the cheapest one-stop cart at $105.20 before tax. The same basket came to $124.15 at Loblaws, $131.09 at Walmart and $133.93 at Real Canadian Superstore.

That is a difference of $28.73 between the cheapest and most expensive options.

This gap ultimately came down to the cost of the bird. A 7-to-9 kilogram frozen turkey cost $30 at No Frills and $32.05 at Loblaws. A similarly sized turkey was $53 at Real Canadian Superstore and $57 at Walmart.

Choosing the cheapest turkey alone could save as much as $27.

Sides varied too, with a 10-pound bag of yellow potatoes costing $1.99 at No Frills, versus $5.94 at Walmart and $6 at both Loblaws and Real Canadian Superstore.

The Globe picked the cheapest version of each item across the four stores to build a “deal-hunter” basket. The final deal-hunter basket came to $92.60 before tax, $12.60 less than buying everything at No Frills.

Compared with Loblaws, the savings grew to $31.55. Compared with Walmart, they grew to $38.49 and more than $40 compared with Real Canadian Superstore.

Adam Chapman, a certified financial planner at Yes Money in London, Ont., recommends making a grocery list and estimating the total before heading to the store.

“Pick that one thing that really matters, splurge on that, and then if you’re trying to cut back, cut back on everything else that’s maybe a little bit less important to the experience,” Chapman said.

But getting the lowest bill comes with a trade-off: time.

“There’s a cost to effort,” Chapman said. “If that includes shopping all over the place, you’re almost kind of ruining your own experience of Thanksgiving because you’re so exhausted by the time you get to the meal.”

On a Sunday morning in midtown Toronto, hitting several stores added up to more than 40 minutes of driving before factoring in time for parking, shopping and lineups. There are also costs for gas, transit or Ubers to consider.

For anyone trying to keep holiday spending down, Chapman suggests hosting a potluck. The host can provide a main dish, while guests bring sides, desserts or drinks.

The best deal, he suggests, is not always the cheapest but the one that saves money without costing excess time or energy.

With files from The Globe and Mail