Despite recent high inflation, some Super Bowl food favorites are seeing price declines from 2022.
According to a Wells Fargo report, which looked at USDA and Federal Reserve Economic Data, costs for chicken wings, avocados, sirloin steak, bacon and shrimp have all gone down.
The report said that whole chicken wings dropped from $3.38 per pound in February 2022 to $2.65 in January, thanks to the supply of chickens being at the highest level since the beginning of 2019.
Sirloin steak prices have dropped almost a $1 per pound since last December.
Avocados are 20% cheaper with the average price dropping from $1.50 per pound in February 2022 to $1.20 in January.
But high prices persist and the report found that some food and drinks still could cost you more than they did during Super Bowl 56. In particular, the cost of hamburgers, beer, soda, wine and spirits all up.
Beer has gone up by 11% since January 2022 while at the same time, spirits and wine increased by 2% and 4% respectively, the report said. Also, the rise in ingredients and shipping costs show a 25% increase in prices of soft drinks.
Michael Swanson, who is Wells Fargo’s chief agricultural economist and who wrote the report, suggests the following tips to get people ready for the Super Bowl.
- Contemplate wine or spirits over the traditional beer to cheer on your team
- Guac the table with avocado-focused appetizers
- Help yourself to hamburgers
- Look for sales on wings at the grocery store and your favorite restaurant
- Make a bunch of cocktails and use an array of fruits on the side for garnishes
