Valentine's Day Flowers, Candy Are Going To Cost You More
MIAMI (CBSMiami) - Get ready to spend more money on that special someone this Valentine's Day. Prices on everything from flowers to candy are on the rise.
Banchet Jaigla creates unique bouquets for people in the New York City area. Prices for roses and other flowers usually go up before Valentine's Day, but Jaigla estimates prices are up about 20% compared to last year.
She blamed the pandemic for shutting down some flower producers and causing a supply squeeze.
"A lot of farms that we use for flowers are out of business," Jaigla said.
The flowers she can find cost more because shipping prices are soaring.
"The price went up higher, the freight as well," Jaigla said.
At Li-Lac Chocolates in Brooklyn, co-owner Anthony Cirone said he's experiencing similar problems with packaging.
"The Valentine's Day boxes, we got hit with a 50% increase this year. When we asked why, we were told it was 100% due to container ship pricing. Transportation costs," he said.
Cirone said he's been forced to raise prices on some items. A box of truffles he sold for $48 last year is going for $60 dollars this year.
It's not just candy and flowers. Prices for jewelry and eating out are also higher this year, though that's not slowing spending. The National Retail Federation predicts the average American will shell out $175 dollars for Valentine's Day. The NRF says nearly a third of Americans plan to gift an "evening out" this year, 22% will opt to gift jewelry to a special someone.
"And we could see total spending reach almost 24 billion, which would be the second highest in our service history," said Katherine Cullen with the NRF.
Experts suggest shopping early to get the best prices. Jaigla said call ahead and work with a local florist. They can help pick a bouquet with a price tag that won't make your heart skip a beat.