Compiling your Super Bowl shopping list with Wells Fargo
Given the recent rising prices, choosing the best foods for a Super Bowl celebration can be a challenge. A new Wells Fargo report has suggestions for consumers.
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As Super Bowl LVII approaches this Sunday, many shoppers are looking forward to hosting get-togethers and enjoy the game with food and friends. To help them make the best decisions, Wells Fargo has compiled a report on the best priced foods to buy for the day of the big game.
While food inflation has risen, pricing can vary when buying groceries to buying from a restaurant, as at-home food prices have risen by 11.8%, while away-from-home prices have only risen 8.3%.
But despite the rising prices, some fan favorites are seeing drops in prices, whether those be a choice of meats or simple snacks.
One fan favorite has seen a significant increase in supply: chicken wings. As poultry producers have increased, prices have seen a decrease. Last year, the USDA weekly retail price report put chicken wings at a high $3.38 per pound during Super Bowl week.
But as of Jan. 6 this year, whole chicken wings are sold at only $2.65 per pound, a welcome change for fans looking to eat at their favorite pub or restaurant during the game, or for those looking to watch the Super Bowl at home.
Other meats seeing price drops are sirloin steak (standing around $1 per pound since December), hamburgers recovering from their July 4th price peak, along with both bacon and shrimp seeing prices drop.
While last year's avocados saw supply chain issues in Mexico, this year's crop has made it to the U.S. well enough, with Wells Fargo recording a 20% price drop since last year, allowing for guacamole to return to the table without stressing your wallet.
Snacks like tortilla chips and potato chips remain fan favorites, with demand increasing despite double digit price increases occurring since 2021.
The biggest changes in price for drinks come to soft drinks, with a 25% price increase coming as ingredients and shipping costs rise as well, though they are still within an affordable range at $2.13 on average.
Beer has likewise increased, with costs rising 11%, as wine and spirits rise as well, at 4% and 2% respectively.
For the savvy shopper, the impact of these prices can be reduced by keeping an eye out for the best prices, and shop smartly.