Americans across the country are gearing up for Super Bowl LVI, spurred by vaccination and reduced restrictions. Festivities will be much more expensive and feature less variety, however, as inflation and supply chain dysfunction continue to affect grocers and restaurants across the country.
It has only been two or so months since Federal Reserve Chairman Jerome Powell admitted that inflation was no longer "transitory", and despite the best efforts of the Fed and the Biden administration, the situation hasn't gotten any better. As the largest sporting event and one of the most significant media events of the year approaches, many Americans are still planning to enjoy the festivities despite the higher cost.
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For consumers looking to one-up the neighbor's super bowl party from last year, the grocery tab is going to be noticeably worse for crucial products; chicken products, sodas, some snacks, and alcohol. The bill for restaurants and bars to stock up ahead of the game isn't looking much better.
Chicken wings, consumed in high millions or low billions each year during the game, cost almost a dollar more per pound at wholesale price than pre-pandemic. Due to supply line issues and high prices, restaurants facing potential shortages of fresh wings have noted may need to switch to frozen wings to keep up with customer demand.
Alcohol prices are also up, with beer prices up 4% due to middling demand and increasing production costs. Wine prices were a bit better at 3%, mainly due to rising costs of labor and materials. If you're not a drinker, you're looking at an even more expensive tab, with 2-liter soft drinks up by 12% and 12 packs up by 6%.
As American consumers have done throughout the pandemic, most will likely continue festivities regardless of item availability. The Super Bowl comes amid growing international tensions, ongoing economic disruptions, and the seemingly never-ending Coronavirus pandemic. With so many looking for an escape as the game approaches, figures for Super Bowl-related sales will likely still be respectably strong.
