Inflation Causes Prices for Flowers and Chocolate to Skyrocket
Valentine’s Day is coming fast, but there is one thing about it that may look a little different. The most major change between this year and last year is the price for different Valentine’s Day items.
Overall, prices are increasing by quite a large margin. For example, a bouquet of roses has gone up by at least 40%, with the more premium flowers going from $50 to $70 in one year the cheaper side of things, a bouquet that would normally cost $10 is now going to cost you about $25, a 150% increase.
The chocolate prices are also expected to make a large jump, although this isn’t true for all chocolate. The biggest price increases are being seen in the special boxes, such as the ones shaped like hearts. For example, a box of chocolates that would normally cost you about $50 will likely cost you over $60 this year. This price can be made a lot cheaper if you are willing to sacrifice the romantic esthetic to just get the chocolate as is.
These aren’t the only areas where prices are increasing, as prices for things like dining and jewelry are also increasing at a rapid rate. Overall, it is said that the average American will pay approximately $175 for Valentine’s Day this year. That is a ten-dollar increase compared to 2021. The overall expected spending for Valentine’s Day this year is over $24 billion.
The two main reasons for these price increases are said to be inflation, along with supply and demand. Currently, prices for items of all kinds are skyrocketing across the country, as we are looking at an inflation rate of 7.5%, the highest rate since 1982. Valentine’s Day is no exception to this inflation. Along with this, we are still seeing major supply chain issues throughout the country. This means that while there is a very high demand for items like flowers and chocolate, the actual supply available to Americans is severely limited. These two things together are said to be the main driving force behind the increases.
It is unknown exactly how long these increases will last. However, economists are saying that we should expect to see them last throughout the entirety of 2022.