Whether you’re rooting for the Philadelphia Eagles, the Kansas City Chiefs, or Rihanna’s Halftime performance, you might want to reconsider hosting since it might leave a little less cash in your pocket. According to a new report by Wells Fargo per CNN, “beer prices this year have jumped 11% from a year earlier, while wine and spirits are up 4% and 2%, respectively.”
Not only beer, but food has also been on the rise which many have noticed in the grocery store. Compared to last year, food costs have gone up 11.8%. However, there is some good news in regard to food. A pound of chicken wings is down 22% from January 2022 because of more supply.
“It came down to $2.65 per pound in early January,” said Michael Swanson, chief agricultural economist at Wells Fargo. “Chicken wings were so expensive last year that consumers were looking for alternatives to serve at the party. Poultry producers then brought in a significant increase in supply and now it’s at the highest level of supply since early 2019.”
Steak and shrimp are also cheaper this year. Steak is almost down $1 per pound and since there has been a lower demand for shrimp it has also gone down about 17% to $3.78 a pound, compared to last year.
Chips and guac lovers can rejoice as well since the retail price for avocados is down 20% since last year, according to the report.
“The dollar amount per person at this year’s Super Bowl party ultimately depends on what they drink and consume,” said Swanson. Super Bowl LVII will take place on February 12, 2023, at State Farm Stadium in Glendale, Arizona.
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