Inflation means prices for dinners and roses rise this Valentine’s Day

101 shares, 82 points
Inflation means prices for dinners and roses rise this Valentine's Day

Inflation means prices for dinners and roses rise this Valentine’s Day


Adriana Gamez replenishes her bouquet of roses at California Flowers in downtown Los Angeles on February 12, 2021.

Dania Maxwell | Los Angeles Times | Getty Images

They say love doesn’t cost money, but Valentine’s Day is another story.

For starters, anyone dating for the February 14 holiday can expect to pay top dollar for a table for two. Restaurants, which have been under pressure since the start of the pandemic, are charging more for meals in response to ongoing staffing challenges and higher food costs.

Discover  Halloween Facts and Trivia: 16 Fun Facts about Halloween, Candy Corn, and Trick-or-Treating

The price of a good steak in particular soared 154%, according to data compiled by personal finance site The Balance.

Almost all other traps on February 14 also cost more in 2022.

The Balance found that the average price of a dozen roses was up 22 percent from last year. Assorted chocolates were 9% higher, while candy sales in general hit new highs ahead of the holidays.

Prices for imported champagne, already more expensive than other sparkling wines, rose to $53 a bottle, up about 18 percent from a year ago, according to alcohol delivery service Drizly. On the other hand, the average price of table wine rose by only 2.5%.

Discover  Happy Lohri Wishes, Messages with images for Your Friends, Family

Only gold remained near $1,800 an ounce due to other economic factors.

More from personal finance:
While Valentine’s Day is getting more expensive, debt isn’t sexy
Owning cryptocurrency may make you more attractive, study finds
How much to tip in a post-pandemic world

All in all, Valentine’s Day spending According to the National Retail Federation, it is projected to reach $23.9 billion in 2022, the second-highest year on record.

Discover  New Year’s Eve Celebration Safety Tips from Security Specialists!

On average, Americans pay Candy, cards, flowers and other romantic gifts cost $175.41, up from $164.76 in 2021.

According to another LendingTree survey of nearly 2,100 adults, people in relationships spend more money — an average of $208 for their significant other.

Subscribe to CNBC on YouTube.

Sharing is caring πŸ’• don’t forget to share this post on Pinterest !

Like it? Share with your friends!

101 shares, 82 points