(Photo: USDA)
There’s good news for football fans trying to tackle high inflation while shopping for this year’s Super Bowl LVII.
According to a new report from Wells Fargo, inflation has increased prices for at-home food by 11.8% over the past year. However, some watch party staples will cost less this year.
The report shows a decline in foods like chicken wings means the grocery bill for this year’s game should cost less than for shoppers.
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(Photo: Marketing Week)
Wells Fargo’s chief agricultural economist, Michael Swanson, told USA TODAY that they were seeing some healing in the U.S. food system. The last two years have been difficult for many people, but things have been quite different as people are now surviving post-pandemic.
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Avocados: The MVP of guacamole will be much less expensive this year due to a strong cup. Wells Fargo notes that prices have decreased by nearly 20%.
Chicken wings: According to the report, the price of chicken wings has declined from almost $3.38 per pound during last year’s Super Bowl to $2.65 per pound.
Hamburgers: Prices are elevated from last year; they have decreased below their peak. Frying up some bacon to top those burgers will cost less this year.
Swanson mentioned that various food prices are easing thanks to progress in the supply chain.
Beer: The star of many Super Bowl commercials, beer is about 11% costlier than last year. Wine increased by 4%, while spirits are up by 2%.
Soda: A rise in ingredient and shipping costs means soda has increased by 25% since last year. The report states that the price increase is unlikely to break the bank, though, with a two-liter bottle costing nearly $2.13.
Chips: According to the Bureau of Labor Statistics, potato chip prices between December 2021 and last month have increased almost 22% to $6.28 for a 16-ounce bag.
Swanson mentioned that despite the price increase, consumers could expect to pay less for this year’s Super Bowl than in 2022.
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