Americans hosting Thanksgiving to spend 19% more than last year: report

Stubbornly high inflation is continuing to strain the budgets of American households this Thanksgiving, as a new report by LendingTree finds that the costs are up 19% from a year ago.

LendingTree's survey found that on average, Thanksgiving dinner hosts plan to spend $431 on food, drinks and decor for the celebration. That includes an average of $265 for food and drinks, plus an additional $166 on Thanksgiving decor for the festivities. Those Thanksgiving hosts expect an average of 11 guests to attend the holiday party, the same number as last year.