Average spending for Valentine’s Day in 2023 will be around €50, including what economist Austin Hughes has calculated as a “love inflation” rate of nearly 5pc.
Figures from the Central Statistics Offcie show that going out for a Valentine’s dinner is 30pc more expensive compared to 2020 while going to a theater show was up 15pc and a bunch of flowers 12pc more expensive.
Economist Austin Hughes calculates that prices for romantic meals have risen by 4.2pc compared to the previous year, and a taxi ride for a date is nearly 9pc more expensive due to recent fare increases.
Chocolate prices saw the largest increase, jumping close to 11pc, while flower prices remained stable for now, though their costs are expected to rise before Valentine’s Day.
AIB’s consumer spending data reveals that Valentine’s Day is second busiest day for florists, coming after Mother’s Day, with average transactional spending peaking at €47 in stores and €71 online.
