With just days to go to Super Bowl LVII, it’s crunch time if you’re hosting a party this year. That means stocking up on essential game day food and drinks.
The good news is that it’s likely to cost less than it did a year ago to serve up several big ticket game-time dishes, except one important one.
While overall food price inflation is up 11.8% over last year, prices on some popular snack items are down just in time for game day, according to a new Wells Fargo Super Bowl Food Report.
But with beverages, brace for sticker shock on at least one must-have for many people - beer.
Beer prices this year have jumped 11% from a year earlier, while wine and spirits are up 4% and 2%, respectively according to the report.
Load up on wings and guac
There is some relief in the budget for food, however.
Wing fans will like this: A pound of chicken wings is down 22% from January 2022 because of more supply.
Last year at this time, the retail price for whole chicken wings was $3.38 per pound for the week of Super Bowl LVI, according to the US Department of Agriculture’s weekly retail price report.
“It came down to $2.65 per pound in early January,” said Michael Swanson, chief agricultural economist at Wells Fargo. “Chicken wings were so expensive last year that consumers were looking for alternatives to serve at the party. Poultry producers then brought in a significant increase in supply and now it’s at the highest level of supply since early 2019.”
If you’re grilling, sirloin steak prices have dropped almost $1 per pound and bacon is also cheaper than last year, said Swanson. So is shrimp, as lower demand helped push down prices by 17% to $3.78 a pound, compared to a year ago.
Go crazy with guacamole, too, because avocados are at a bargain. The average retail price for an avocado is down 20% since last year, after a significant supply glut of the buttery fruit triggered a drop in wholesale prices.
That’s a welcome reversal from 2022, when avocado prices surged in the first half of the year after a brief stoppage of avocado imports from Mexico roiled the supply chain and inflated prices.
“The dollar amount per person at this year’s Super Bowl party ultimately depends on what they drink and consume,” said Swanson.
The 57th Super Bowl will take place on February 12, 2023, at State Farm Stadium in Glendale, Arizona.