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Holiday celebrations expected to shrink

Average dinner price has nearly doubled since 1987

Updated: Monday, 08 Nov 2010, 3:23 PM EST
Published : Monday, 08 Nov 2010, 3:23 PM EST

NEW YORK (CNN) - Forget piling up your plate with food. A new survey shows American families plan to scale back their Thanksgiving festivities this year.

The price of a festive holiday season is more expensive than ever. A survey from First Command Financial Services shows that 45 percent of families will change their Thanksgiving plans this year due to economic reasons.

The average cost of Thanksgiving dinner for a family of 10 is $43. That's nearly double the price in 1987.

To save money, many families say they will dine with immediate family only and stick to a budget this year.

On top of that, 55 percent of families say they will travel less. That could have something to do with rising airfare prices.

An analysis by FareCompare.com shows that on some routes, fares are up to 50% higher than last year for travel before Thanksgiving and up to 40% higher before Christmas.

Orbitz says the most expensive day to fly will be December 26, where a domestic round-trip flight is around $717. The least expensive day to fly will be December 31. Customers will pay an average round-trip fare of about $439.

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