Super Bowl Spending: How Much Will Inflation Increase the Cost of Your Party Food?
If you’re planning a Super Bowl party on Sunday, get ready for the spending equivalent of being sacked for a 15-yard loss. With inflation still rampant and grocery costs currently up 11.8%, prices are at a premium for game-day staples, from chicken wings and hot dogs to guacamole, salsa, soda and beer.
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U.S. consumers are expected to spend a total of $16.5 billion on food, drinks, apparel, decorations and other items this Super Sunday, according to Statista. That’s nearly $2 billion more than in 2022. Food and beverages take up a huge part of this share, with Americans expected to pay around $85 per person. Though, it’s still slightly lower than the record of $88.65 per person set in 2020 when total spending hit $17.2 billion. That was the year, you’ll recall, that the Super Bowl was held just before the COVID-19 pandemic began its rapid spread around the world.
Wells Fargo analysts estimate that the cost of a Super Bowl spread at home will come in right around that 11.8% mark, and will be 8.3% higher if you choose to head to a restaurant or bar for the festivities.
Of course, your own costs will depend on what you plan to buy. But if you’re like most Super Bowl party hosts, you’ll probably have some combination of chicken wings, hot dogs, guacamole, chips, salsa, burgers, soda and beer. The good news is that two big staples — wings and guac — actually came down in price for 2023.
Here’s a rundown on what you can expect to pay this year:
Wings
One big pre-game score — chicken wings are affordable and a-plenty this year! The Wells Fargo report found that the price per whole chicken wing is currently down 22% in price. Poultry providers made huge strides in increasing supply ahead of the big game, which has brought down the overall cost. Currently, that comes in at $2.65 a pound, down from $3.38 a pound this time last year.
Guacamole
If you’re a fan of guacamole, you’ll be a big winner this Super Bowl Sunday. After a year of surcharges and low supply imported from Mexico, avocados have made a comeback. They’ve come down significantly in price, around 20% less than 2022 says the Wells Fargo report, now averaging $1.20 a piece versus $1.50 a piece last year. They also note that hummus is an economical option to round out your dipping options.
Chips & Snacks
Of course, you’ll need some hearty chips for that guac or hummus. The food remains a popular go-to for Super Bowl spreads. Per Wells Fargo, “Fans are still favoring tortilla and potato chips as demand climbed in 2022 despite double digit price increases since 2021.” Forbes also notes that chips are on pace with overall food increases, up 8% to 10% over this time last year. Though Wells Fargo notes that DIY veggie trays are coming in strong as another, more affordable — and healthier — option.
Burgers & Other Proteins
If your Super Bowl party includes grilling burgers, party on! Thanks to fixed supply chain issues, sirloin steak and ground beef prices are now leveling, dropping almost $1 a pound since December, now averaging $10.17 a pound, says Wells Fargo, and significantly down in price since July 4 of last year.
Bacon and pork products are also down, says the report so go for those toppings too! Another good option for your spread is shrimp. “Last year’s higher prices pushed consumers to be less enthusiastic about buying shrimp. With demand down, wholesalers find themselves with full freezers and coolers. To move the ball up the field, they have started dropping prices,” says the report.
Soda
While many food products have come down in price, drinks are another story. Soda has seen some of the biggest jumps, up 25% in cost over 2022, mainly due to surcharges for ingredients and shipping. Still, says the report, a $2.13, 2-liter bottle is still a pretty good deal and more affordable than individual cans.
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Beer & Wine
America’s favorite Super Bowl imbibement is going to cost more this game day. Beer prices are up 11% says the Wells Fargo report. If you prefer wine and other spirits, you’re more in luck as those have only seen price jumps at a respective 4% and 2%.
Vance Cariaga contributed to the reporting of this article.
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This article originally appeared on GOBankingRates.com: Super Bowl Spending: How Much Will Inflation Increase the Cost of Your Party Food?
