Inflation is high across the country. According to the U.S. Bureau of Labor Statistics, the cost of all goods is 7.5 percent higher than it was in January, 2021. That is the highest 12-month increase since 1982. Food prices are seven percent higher.
"It's not just 50 cents," Kathryn Payne, Graeagle resident said. "It's a dollar, at least on stuff, you know, and vegetables and a lot of stuff, they're not on the shelves you can't get."
"I could buy two tri-tips that are normally $25," Mary Jones said. "It's like $6.99 a pound. It's gone up to $10.99 a pound and it always happens right before a holiday, Father's Day, Valentines Day or whatever. I'm like, 'Oh, I'm not spending 50 bucks. That's not happening today.'"
The higher food prices also affect staples at Super Bowls. Chicken wings are nearly 12 percent higher, ground beef is 13 percent higher and steak is 17 percent higher. Beverages like soda are nine percent for a 12-pack while beer is six percent higher. Consumers are noticing the difference.
"Chicken wings, for sure," Sean Brown, Reno resident said. "Absolutely, chicken wings have gone way up and yes, we are planning to have a Super Bowl party at my fiance's parents' house and we are definitely expecting to spend a little bit more."
"I would imagine that's going to cost a little bit and that's the reason my wife sent me here today is to pick up some groceries and stuff for the Super Bowl," Donald Fregulia, Graeagle resident said. "Yeah, it's going to cost more money this time around and my wages have not kept up. Let's put it that way."
The National Retail Federation says 90 million Americans will host or attend a Super Bowl party and another 13.7 million will watch the game at a bar or restaurant.Â
"We've got more parties, more celebrations than we did last year and the number of folks that are leaving their house to celebrate is 10 percent above what it was, last year," Bryan Wachter, Senior Vice President of the Retail Association of Nevada said.Â
The price of food items does not appear to be keeping people from buying their favorite party foods.
"Folks are feeling confident," Wachter said. "They're feeling comfortable to go out and celebrate and that includes the 135 million chicken wings."
Wachter says consumer behavior is changing. Some are buying fewer items during each trip to the grocery store. Others are substituting items with private labels or store brands. He says another big change comes in meat sales.
"People are choosing maybe cheaper cuts of beef or their forgoing beef and pork altogether and they're moving into chicken, which is raising less rapidly," Wachter said.
Energy costs are 27 percent higher than they were one year ago. That includes a 10.7 percent increase in electricity and 40 percent increase in gasoline.Â
"The biggest thing that hits me the hardest is gas, power, electricity, all that stuff but also some of the general necessities, so food's been going up," Brown said.
Wachter says the high fuel costs are having a trickle down effect, raising the prices to transport goods. That is causing the prices of almost all of those goods to rise.
"Those fuel costs are increasing all up and down the supply chain, so that's leading to a general increase," Wachter said. "We have some labor issues and some pressure that is being put on."
New vehicles are up 12.2 percent and used cars have risen 40.5 percent. Housing is 4.4 percent higher than it was one year ago.
