Forget the CPI basket of consumer goods. President Donald Trump points to Walmart’s Thanksgiving basket as proof he’s bringing prices down.
It all started when Walmart CEO John Furner told ABC that Walmart’s Thanksgiving basket would be $14 cheaper this year than last, a 25% reduction in price (1).
Trump has been dining out on the news, bringing it up on social media, in a speech to the American Business Forum and at the White House (2).
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“Under the Biden administration, a Thanksgiving meal with all the trimmings cost 25% more,” Trump told reporters at the White House. “In other words, our Thanksgiving this year will cost 25% less than Sleepy Joe Biden’s. To me, that’s better than anything there is.”
With 68% of Americans expecting Thanksgiving to be more expensive due to inflation and tariffs, and one in four planning to skip it according to an Empower, it’s clear many households are feeling the pinch. (3).
So at $40, a Walmart Thanksgiving package designed to feed 10 people may sound enticing.
Here’s a closer look at whether it really is a deal, what’s happening with grocery prices more broadly — and how to keep your own holiday affordable.
The real cost of turkey and the trimmings this year
Critics say the 2025 Walmart Thanksgiving basket isn’t quite as great a deal as Walmart and Trump imply (4). They note it contains 15 products this year — six fewer than in 2024. Some of the missing items include onions, celery, muffin mix, and marshmallows (5).
Trump also suggested that Thanksgiving in the U.S. would cost 25% less this year thanks to the Walmart basket.
Not quite. Let’s say you don’t shop at Walmart.
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The good news is that economists at Wells Fargo found that a basket of Thanksgiving groceries will cost less than last year. But 2% to 3% less — not 25% less (6).
However, given the cost of food at home is up 2.7% overall from a year ago, it’s a pleasant surprise for many households (7).
How to stretch your holiday food budget
You can stretch your dollars around the holidays and still enjoy a great feast. Some Americans are planning to get creative on their meal choices this year to lower their costs.
For example, according to Empower, 38% plan to roast chicken instead of a turkey. Another 30% are considering opting for burgers, pizza, or fast food over a traditional meal.
You could potentially save a lot of money — and avoid food waste — by simply scaling back on how much food you prepare. Consider the size of your gathering and make an appropriate amount of food. You can also share costs by hosting a potluck.
Even with all of the savings options, sometimes Thanksgiving doesn’t fit into the budget.
According to a LendingTree survey, 34% of Americans plan to use their credit cards to cover the costs and 13% will use buy now pay later loans (8).
Unfortunately, relying on debt to cover holiday costs could put a strain on your finances post-celebration, and leave you feeling guilty about your spending.
Thanksgiving should be about gratitude — not guilt. If you can’t afford to host or travel, consider opting for a low-key celebration.
Most understand that the current economy is putting pressure on everyone’s budgets.
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Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
ABC News (1); NBC News (2); Empower (3); CNN (4); Walmart (5); Wells Fargo (6); U.S. Bureau of Labor Statistics (7); Lending Tree (8)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.