Try this ‘Touchdown Guide’ to 2024 Super Bowl snacks shopping
While U.S. inflation has slowed significantly since hitting 9.1% in June 2022, the cost of basic necessities has been on the rise for the past few years.
And groceries are certainly among the consumer items that are taking a bigger bite out of shoppers’ bank accounts every time they visit the store. So, be prepared to shell out a little more when stocking up on your favorite snacks for the upcoming 2024 Super Bowl clash between the Kansas City Chiefs and San Francisco 49ers. A little strategic planning, though, will help keep those big game buffet budgets in check.
In their annual report ahead of Super Sunday, Wells Fargo economists note a go-to first play on game day is making food at home instead of ordering in from your favorite restaurant. While food purchased from the grocer is up 1.3% overall from this time last year, restaurant prices have risen 5.3% over the same period.
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Try flapping toward the deals
Everybody’s favorite chicken wings are a standout bargain among proteins this year now that widespread outbreaks of avian flu, which roiled poultry producers last year, have mostly abated.
Based on January 2024 data, fresh wings are selling for $3.26 on average per pound, down 5% from last year, and frozen wings can be had for an average $3.17 per pound, an 11% discount from January 2023.
A beefy front line
Wells Fargo economists note beef industry supply and demand issues have pushed prices up this year with sirloin steak averaging $9.35 per pound last month, up 2.3% from the same time last year. While ground beef is the more frugal option, it shot up 12% over the last 12 months and was selling for an average $4.25 per pound to kick off 2024.
Ceviche, anyone?
Savvy consumers can score some great deals by skewing their menus seaward this year. While the price of salmon spiked in the summer, it’s currently selling for close to where it was at the beginning of last year. And shrimp is priced at an average $8.84 per pound across the country, down 6.4% from early January 2023.
Diving into the dip
While guacamole has held more or less steady since last year’s edition of the NFL championship, salsa has inched up 3% over the same period. But your favorite vehicle for transporting those tasty dips from bowl to belly will set you back a bit more this time around.
Wells Fargo reports tortilla chip prices are up 6% in the past 12 months and the cost of potato chips has gone up 5%. Lingering supply chain issues, along with higher costs for labor and packaging, are contributing factors.
It’s what’s outside that counts
The Wells Fargo report notes soft drink pricing is currently being driven more by the packaging than the product and making the right choice in the soda aisle pops open instant savings.
While data from December 2023 had a 12-ounce can of soda selling for an average of 57 cents, up 4.8% from a year earlier, the same product in a 2-liter plastic bottle carried an average price of $2.11, down 0.8% over the same time period. So, what gives? The cost of aluminum has risen, as has consumer interest in buying by the can.
But if it feels like soda pop is just costing a lot more than it used to, you aren’t wrong. Wells Fargo economists report soft drinks as a category have seen the highest food inflation spike since the start of COVID-19 in 2020 — with the 12-ounce can category up 57% and the 2-liter bottle category having increased by 33% since that time.
