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- Inflation is still going strong, but certain foods are slowly getting cheaper in time for the Super Bowl.
- A new Wells Fargo report detailed the best deals to stock viewing parties with this year.
- Here are the best items to buy and a few to consider skipping to save money.
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Thanks to an increase in chicken supply this year from poultry farmers, the cost per pound for wings has decreased significantly from 2022. According to the Wells Fargo report, whole chicken wings are going for an average of $2.65 a pound, down from $3.38 a year ago.
"Consumers and restaurant operators will find the supply of chickens at the highest level since the beginning of 2019," Michael Swanson, Wells Fargo's chief agricultural economist, wrote in the report.
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After avocado prices spiked to record highs last year due to supply chain challenges in Mexico, the fruit is back in full force thanks to "increased plantings and excellent management," Swanson wrote.
Avocado prices are trending 20% lower than this time last year, currently sitting at a four-week average of $1.20 each, versus $1.50 in 2022. Time to stock up.
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It's a good year for meat lovers. According to Wells Fargo, the price of red meat has largely gone down across the board, as supply chain issues have improved and livestock farmers have worked to increase inventory.
Sirloin steak prices in particular have dropped $1 since last winter, per Wells Fargo, and while hamburger is slightly more expensive, it's dipped from a Fourth of July price spike.
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Get your shrimp cocktail ready, because the cost of the crustaceans is on the decline after price hikes last year led to a significant drop in demand. According to Wells Fargo, the price of shrimp is starting to decrease due to the lower demand and help balance out supply.
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It may sound blasphemous to skip beer for a Super Bowl viewing, but if you're looking to save, Wells Fargo recommended opting for wine or spirits instead.
According to their findings, beer prices have increased by 11% from the same time last year, while the cost of other alcoholic counterparts have risen more modestly.
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For those looking to get a buzz without breaking the bank, a cheaper alternative to beer this year is wine or spirits. While still more expensive than last year — with wine up 4% and spirits by 2% — Wells Fargo recommends making a signature cocktail or batch of sangria for the occasion to help cut costs.
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Soda may be a staple of Super Bowl parties, but prices are up 20% due to the cost of ingredients and shipping, per Wells Fargo. Consider springing for juice or alternative beverages.