That Super Bowl spread could cost you quite a bit more this year — especially if you’re going all out on the buffet.
According to Wells Fargo Chief Agricultural Economist Michael Swanson, you may have a bone to pick with the price of chicken wings, which has gone up more than 26% since last year. Steak will also put a real dent in your wallet after a 23% price hike. Even hamburgers will cost you: Ground beef is up 17%.
You can still throw a bash without breaking the bank, though: Chips and those all-important avocados have barely budged, price-wise. They’re only 1% more expensive. And, to make sure everyone is in a good mood, you can always grab a beer — which will only be 4% pricier than in 2021.
The reason for the spike? Swanson says, “It’s not that we have a lack of food ingredients … it’s that labor in the factories, on packaging and transportation have all really shot up.”