Planning a Super Bowl party? You may not have to shell out as much as you’d expect in these inflationary times.
While the price of food has increased 10.4% compared with a year ago, there are some key items that have actually dropped in price since last year, according to Wells Fargo
which does an annual survey of several key game-day food items.
Specifically, prices for two fan favorites — chicken wings and avocados (the key ingredient in your game-day guacamole) — have dropped considerably. Wings are down by 22% and avocados by 20%.
Various factors, such as supply-chain issues, contributed to higher prices for some food items last year, especially wings, said Wells Fargo chief agricultural economist Michael Swanson.
But this year, prices have eased in some instances. Swanson said lower freight rates have contributed to that shift. “Freight costs were through the roof last year,” he said.
Avocado prices are dipping because this past year saw a strong crop due to increased plantings, the Wells Fargo report noted.
The Super Bowl savings extend to those who like to grill a steak on game day: Sirloin steak prices have dropped by about a dollar per pound over the past year.
Not that all game-day items are lower. If you want something to drink while enjoying those wings, steaks and guacamole, be prepared to pay. Beer prices are up by 11% and soda prices by 25%.
As Swanson noted, inflation can be very “item specific.” But even when prices are higher for some game-day foods, he said that consumers can always benefit by shopping around, since supermarkets will run specials on different items.
“You might want to visit two or three stores to save some money,” he said.