Deep Dive: Cost to celebrate Valentine's Day high in 2022
The cost to celebrate with your loved one this Valentine's Day is high this year.
As part of News 12's Deep Dive poll question, viewers were asked: How do you plan to celebrate?
In New York City, particularly in the Bronx and Brooklyn, a majority, 50% said they are going all out.
In Westchester, though, it was a different story: 79% said they are not celebrating.
That was the same answer over on Long Island, with a majority, 67%, who said they are not celebrating.
So what are the big items making this holiday cost more this year?
"If you are going to spend this Valentine's Day it is going to cost you more and Americans are supposedly intending to spend more," says Investopedia's Caleb Silver. "Spending for Valentine's Day is going to go up to $23.9 billion, that is about $175 per person if you are going all out and if you are going all out that means nearly everything you are going to spend money on for Valentine's Day is costlier. Let's start with beef prices which are up, in the Northeast they are up over 62 1/2%. Dozen roses up 54%, diamonds up 14.9% if you are going strong on that, and a box of chocolates up 9%. Wine, a bottle of red, a bottle of white, if you are getting some champagne, that averages out to about 2.5% increase from last year."
Silver says, however, there are some items couples could get a deal on this Valentine's Day.
"Well, gold and silver prices have come down a lot from earlier in the year. They were sky high, they have come way down," he says.