November 25, 2009
On the price of Thanksgiving c. 1909

The Nov. 25, 1909 NYT reports on the cost of a generic Thanksgiving day dinner and points out that the price of said meal had increased from a price of $1.95 in 1899 to the price of $4.25 in 1909 ($103 in 2008 dollars), an annualized rate of inflation of 7.8%.

{sarcasm} This was clearly an unsustainable rate of inflation in the Thanksgiving Dinner sector because annualized overall inflation during this decade was 0.93% (according to the good folks at eh.net). One wonders why there was no legislative emergency declared that required a 2,000+ page bill from Congress to remedy - oh wait, I know why. {\sarcasm}

I digress, on to the Thanksgiving dinner of 1909:


The price of Thanksgiving turkey in Chicago has again advanced. In 1907 it could be bought for 25 cents a pound, in 1908 it climbed a little higher, selling at 26 and 27 cents. This year it will cost from 28 to 30 cents a pound.

Ten years ago a Chicago department store advertised the following bill of fare for $1.95:

Nine-pound turkey.
Enough plum pudding for four.
Mincemeat enough for three pies.
Bunch of celery.
Turkey seasoning.
Pound of parsley.
Quart of cranberries.
Pound mixed nuts.
Three pounds of sweet potatoes

The same bill of fare this year will cost $4.25.

Vegetables, however, are much cheaper than they have been in past years. This year cranberries can be had for $7 a barrel. Last year people who wanted a barrel of them paid $12.

I went to my local Harris-Teeter's online shopping site and put together the following cart:

3 14 oz cans of Ocean Spray Cranberry Sauce - Full Berry

1 McCormick Poultry Seasoning

9 lb Harris Teeter Turkey Breast (fresh)

4 12 oz North Carolina grown Sweet Potato Yams

2 bunches of fresh Italian Parsley

2 bunches of fresh celery

2 9.75 oz cans of Planters Mixed Nuts

The bill was $54.68 before tax.

Granted, I didn't add the plum pudding or the mincemeat (ugh) for three pies, but surely those wouldn't cost $50?

Posted by Craig Depken at 12:50 PM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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