Your Super Bowl Party Snacks Will Be A Lot More Affordable For 2023
Super Bowl LVII is coming up on February 12 between the Philadelphia Eagles and Kansas City Chiefs and there is some good economic news for fans planning to host their own parties. According to CNN, a new Wells Fargo Super Bowl Food Report shows that prices for some big-ticket party dishes are down from their high points last year.
Grocery prices hit record levels in 2022 thanks to inflation caused by ongoing issues caused by the COVID-19 pandemic and supply chain problems created by the war in Ukraine (per FOX Business). Despite these continued struggles, and a report from CNBC that suggests that many of the prices may stop rising but stay at their elevated rate in the coming months, some big game staples have dropped in price recently.
As reported by USA Today, chicken wings — which Americans consume 1.42 billion of each year during the football championship (per Quartz) — have dropped significantly in price since Super Bowl LVI. The report shows that the snackable meat has dropped from an average price of $3.38 per pound to $2.65 per pound. Additionally, avocados, the key ingredient of guacamole, have dropped more than 20% in price since reaching record prices last year (per Bloomberg), costing about $1.20 per pound now. CNN also notes that other popular options including sirloin steak and bacon have also decreased in cost, while ground beef prices have remained steady, increasing just a few cents per pound.
Prices rise for drinks and chips
While your main dish might be cheaper at this year's Super Bowl party, there are still some items that will cost you more than usual, namely anything you use to wash down all the guac and wings. According to USA Today, the same Wells Fargo report showed that prices of beer and soft drinks have risen significantly in the past year.
Beer has risen in cost by about 11% while soda is a whopping 25% more expensive than it was during last year's Super Bowl. Additionally, wine has increased in price by 4% while other alcoholic spirits have seen a moderate increase of only 2%. Additionally, chips, the preferred conduit for guacamole, have jumped in price by 22%, averaging $6.28 for a 16-ounce bag.
While these prices are still a far cry from what football fans would pay to eat at the actual big game – NBC reported that chips and queso cost $7 and a hotdog went for $8 at SoFi Stadium for Super Bowl LVI — it could still eat into your chicken wing savings if there is a lot of drinking going on.
However, Michael Swanson, Wells Fargo's chief agricultural economist tells USA Today that the Wells Fargo Report is taking the reduced chicken and avocado prices as a good sign. He says, "We're seeing some healing in the U.S. food system ... we're starting to see a lot of things start working in our favor again."