Valentine’s Day is getting more expensive
New study finds that Americans will spend $262 more this year on their sweethearts than they did in 2016
passorn santiwiriyanon
Being in love is getting more and more expensive these days.
A new study from InvestorsObserver finds that the price of popular Valentine's Day gifts has skyrocketed in the past 10 years. Romantics trying to make an especially good impression who purchase a greeting card, a box of chocolates, a dozen roses, dinner for two and a pair of diamond earrings will shell out $774.39 this year, which works out to $262.36 more than they would have in 2016.
Related Content
The biggest price jump in that overreach of extravagance? It wasn't the diamonds. It was the chocolate, which has seen its price increase 236% in the past decade, soaring from $15.11 in 2016 to $50.70 today
Eating out is also responsible for a notable part of that increase, with costs more than doubling in that time period, rising from $80.46 to $209.
The price of the earrings only increased 36% in the same time frame. That's roughly the same escalation as seen in greeting cards.
“People may be recreating 2016 aesthetics, but not 2016 prices. Nostalgia might be trending online, but from a finance perspective, it’s clear romance has got a lot more expensive,” says Sam Bourgi, senior analyst at InvestorsObserver.
Champagne wasn't included in the calculations, but if you're planning to buy some bubbly for Valentine's Day, that will run you $117.10, a 127% increase from 2016's $51.54.
It's worth noting, of course, that few people have the budget to go all out like this on Valentine's Day at present. Take the diamond earrings out of the equation and the total spend drops to a more palatable $336.02. And if you cook something special at home, you can make a big dent in that $200+ dinner line-item. As a bonus, you won't have to wait for a table.