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The Super Bowl food staples consumers should watch for
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This year's Super Bowl party will not be cheap by any means with inflation for food at home up 11.8%. However, football fans may be delightfully prised that "key Super Bowl food" costs are down compared to a year ago, according to a new report from economists at Wells Fargo.
"Between expanding supply in some key areas and weaker demand, retail prices are moderating faster than many expected. Transportation costs in particular have dropped from their peak prices which is a big part of food costs," Dr. Michael Swanson, led author of the Wells Fargo report, told FOX Business.
For instance, wings which have almost become synonymous with Super Bowl parties, are down 22% from last January. This is due in part because of poultry producers ramped up supply significantly even in the fact of higher feed costs, according to the Wells Fargo report.
The USDA weekly report pegged whole chicken wing prices at $3.38 a pound during the week of the Super Bowl last year, the report continued. As of Jan. 6, the price is hovering at $2.65 per pound, which Swanson says is "a nice pickup from the price of a year ago."
ARE HIGHER FOOD COSTS CHANGING OUR EATING HABITS?
Meanwhile, avocados were down 20% in December compared to a year earlier, the report continued.