BAKERSFIELD, Calif. (KERO) — With Valentine's Day around the corner, it may be a bit of an expense for some. As the cost to spend on your loved one is increasing.
- Valentine's Day costs are rising due to increased prices for flowers, chocolates, and dining.
- Cocoa prices have surged by 70% over the past year, impacting chocolate costs significantly.
- A dozen roses are now 2% more expensive compared to previous years.
- Florists expect high demand during Valentine's week, though flowers are seen as a luxury.
- Overall food costs are also rising, affecting romantic dinners at home.
BROADCAST TRANSCRIPT:
David Campell came in to buy flowers for his wife of 28 years.
He tells me he isn't feeling the pressure of the expense of Valentine's Day because it's the person who matters.
"With Valentine's Day it really doesn't matter what the cost is."
But for others this Valentine's Day, you can expect the cost of simple things like chocolate to be more expensive, as CSUB economics professor Aaron Hedge tells me, as the price of cocoa has gone up 70%.
Aaron Hedge said, "A year ago it was like 6 dollars or even 4 dollars or even less than that and in the last year the prices have gone up."
With 50% of cocoa coming from Africa, the costs have gone up due to weather changes and disease, and this has impacted sellers of chocolate, making it a higher cost for your wallet.
Aaron Hedge continued, "Given all these price increases, the price of chocolates for Valentine's Day has gone up and typically the retailers increase the price."
That's not all, as a dozen roses for Valentine's Day is 2% higher than in previous years.
Dina Ramirez of Log Cabin Florist is expecting 700 flowers to be ordered this week, as holidays are the only time she sees major revenue.
Dina Ramirez stated, "I want to say flowers become more of a luxury than a necessity, so it does kind of put a small damper on our business."
And that romantic dinner you're thinking about on Valentine's Day? That, too, is going to cost you more this year due to egg surcharges.
Aaron Hedge noted, "Food in general is still higher, so even if you were to cook a meal at home this year will be a little higher."
For couples like the Campells, they are doing what they can this love day to save, as he buys roses and no chocolates anticipating tomorrow.
David Campell expressed, "It's almost like an anniversary for me because it's the day I proposed." Even though costs are going up, there are still ways you can save by spending your money after when sales go down.
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