Personal finance

Expect to pay more for dinner and a dozen roses this Valentine’s Day

Florist Betty Sejas arranges red roses at Company Flowers in Arlington, Virginia, on Feb. 8, 2022.
Saul Loeb | AFP | Getty Images

Not even Cupid is immune from inflation’s sting this Valentine’s Day.

As consumer prices climb to historic highs, nearly all of the trappings of Feb. 14 cost more in 2022.

The average price for a dozen roses, for example, jumped 22% from last year, according to data compiled by personal finance site The Balance. Assorted chocolates are 9% higher, while candy sales, overall, hit new highs heading up to the holiday.

Couples can also expect to pay top dollar for a table for two this Feb. 14.

Restaurants, which have been under pressure since the very start of the pandemic, are charging more for meals to combat ongoing staffing challenges and rising food costs.

The price of a good steak, in particular, spiked 154%, The Balance found.

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Imported champagne, which is already more expensive than other sparkling wines, rose to $53 a bottle, up roughly 18% from a year before, according to alcohol-delivery service Drizly. The average price of table wine, on the other hand, is up just 2.5%.

Only gold prices have stayed near $1,800 an ounce due to other economic factors.

Altogether, Valentine’s Day spending is expected to reach $23.9 billion in 2022, the second-highest year on record, according to the National Retail Federation.

On average, Americans will shell out $175.41 on candy, cards, flowers and other romantic gifts, up from $164.76 in 2021.

Those in a relationship will spend even more — averaging $208 for their significant other, according to a separate LendingTree survey of nearly 2,100 adults.

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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.

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