The Thanksgiving holiday is quickly approaching, but many celebrators can breathe a sigh of relief as this year's dinner is not expected to exceed last year's costs and will even cost less.

This year's Thanksgiving dinner average cost will be $61.17 for a table of 10 people, roughly 4.5% less than 2022's average of $64.05. The cost per person this year is also less than $6.20, according to data compiled by the American Farm Bureau Federation.

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“Traditionally, the turkey is the most expensive item on the Thanksgiving dinner table,” said AFBF senior economist Veronica Nigh. “Turkey prices have fallen thanks to a sharp reduction in cases of avian influenza, which have allowed production to increase in time for the holiday.”

With turkey being the most expensive item on most people's Thanksgiving shopping list, the average price of the iconic bird this year will cost $27.35 for a 16-pound turkey. The data these numbers are based on were compiled in early November, meaning this average price could actually be even lower.

The cost of other Thanksgiving essentials includes $2.10 for a 12-ounce can of cranberry sauce, $3.97 for a 3-pound bag of sweet potatoes, $4.44 for a 30-ounce can of pumpkin pie mix, and $3.77 for a 14-ounce box of stuffing.

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For those buying boneless ham, Russet potatoes, and frozen green beans, the average cost of one's Thanksgiving dinner goes up by $23.58, bringing the full total to $84.75.

The data in this study were calculated via 245 surveys throughout the United States and Puerto Rico. Surveyors used the best possible prices without accounting for deals or coupons.