A new report from Wells Fargo reveals that while overall grocery prices are climbing, the cost of Super Bowl snacks will remain relatively stable this year. Consumers can expect to pay just a fraction more for classic game-day staples like chips, guacamole, beer, and chicken wings.
Celebrating football's biggest game can bring big appetites. Buying fixings this year will cost about the same as last year, but the prices of individual products may seesaw, according to a Wells Fargo report. This year, store-bought Super Bowl snacks will cost just 0.1% more than last year, according to Wells Fargo's analysis of Nielsen data. Food and drinks for 10 people, including chips, guacamole, beer and chicken wings, will cost about $139, just 10 cents more than last year's price.
'Consumers are faced with the new challenge of becoming 'food fluent' given ongoing price fluctuation,' the report said. Grocery store prices are up 1.8% year-over-year, according to December's Consumer Price Index. The price of chicken wings, one of the most popular game-day items, rose by 7.2% amid growing demand, according to the report. 'We've certainly seen restaurants and fast-food restaurants dedicated to chicken wings,' said Robin Wenzel, group head of the Wells Fargo Agri-Food Institute and co-author of the report. On the other hand, another Super Bowl-friendly protein is becoming more affordable this year: Frozen shrimp is down 4% compared to last year, according to Wells Fargo. But shrimp is still two-and-a-half times more expensive than chicken wings.Americans are turning to healthier foods, increasing the prices of some dipping veggies. Cherry tomatoes and avocados saw the steepest price increases at 11.9% and 11.5%, respectively, because of unfavorable growing conditions, according to Wells Fargo. Seventy percent of the US tomato production is in Florida, where Hurricanes Milton and Helene have impacted 40% of crops, according to the American Farm Bureau Federation. Pepper and carrots also rose by 7.4% and 3.4%, respectively. In addition to tougher growing conditions, GLP-1 weight-loss drugs are also affecting vegetable prices, according to the Wells Fargo report. Americans taking those drugs 'want to make sure that they're getting enough fiber so we're seeing more vegetables being purchased,' said Wenzel. But a decline in snack prices has helped counter the rise in vegetable prices. For example, frozen pizza prices are down 3.7%. And while avocados may be more expensive, the tortilla chips that accompany guacamole are cheaper by 1.4% this year. The changes in the cost of chips and guac make the combination just two cents more expensive than last year, Wells Fargo reports. 'I see plenty of opportunity for people ... to really save money this year compared to last year, to craft a menu that allows them to do that,' said Wenzel. One way is to avoid prepackaged products, which are becoming more expensive due to labor costs. This could mean opting for whole avocados for guacamole instead of a premade batch. 'We're seeing wages go up, which is a good thing, but those costs have to be picked up somewhere, so it's filtering through on the prices. And that's the same with a lot of the packaging and other supplies that go into making these foods,' said Wenzel. Beer and wine are also up 2% this year, according to the Wells Fargo report. For non-alcoholic drinks like soda, she recommends buying two-liter bottles instead of 12-ounce cans for cost savings
SUPER BOWL FOOD PRICES SNACKS CHICKEN WINGS GUACAMOLE GROCERY PRICES INFLATION ECONOMIC TRENDS
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