Deep Dive: Taking a look at holiday costs this Valentine's Day. Are costs rising?

We are just days away now from Valentine’s Day, and this weekend, you may be out buying gifts, going to dinner and planning everything. In this week's Deep Dive, News 12's Kristie Reeter breaks down what the staple holiday items are costing.

News 12 Staff

Feb 11, 2022, 11:01 AM

Updated 885 days ago

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We are just days away now from Valentine’s Day, and this weekend, you may be out buying gifts, going to dinner and planning everything. In this week's Deep Dive, News 12's Kristie Reeter breaks down what the staple holiday items are costing.
In a News 12 poll, New Jersey residents were asked: How do you plan to celebrate? A majority of people said they are not celebrating.
“Well, the people of New Jersey know that money can't buy you love, that is something you have to make at home,” says Caleb Silver, with Investopedia. “But if you are going to go out this Valentine's Day you are probably going to spend more. Spending is expected to increase to $23.9 billion across the country. That is up from $21.8 billion last year. About $175 per person. If you are going all out and if you are, you are going to pay more. Let's just start with beef prices, if you are going out for a steak dinner, we know that beef prices are up more than 50% across the country but if you are going premium filet mignon up 62.5%, a dozen roses up 54.3%, diamonds up 14.9%, and a box of chocolates up 9%. How about some wine or some champagne? Those prices are up 2.5%."
Are there any items that are staying the same in cost or any deals?
"Deals are hard to come by but gold and silver prices if you are going jewelry those have come down quite a bit, they are about flat from last year,” says Silver.


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