There’s nothing better than making your mother figure smile with the perfect gift on her day. But many of us didn’t see our dollars go as far this Mother’s Day.
According to a report by Investopedia, prices for stationary and jewelry rose faster than the overall year-over-year inflation rate of 4.9%. Flowers are also 4.4% more expensive than last year. The average retail price for a dozen hybrid tea roses at grocery stores in April was $12.62, the outlet reported.
Additionally, the prices of cosmetic products increased 5.1%.
The Investopedia report gathered data from the Bureau of Labor Statistics’ Consumer Price Index Price displaying price changes from April 2022 and 2023 Stationery covering stationery supplies, gift wrap, jewelry, indoor plants and flowers, cosmetics, perfume, bath, nail preparations and implements, and women’s apparel.
Additionally, restaurant prices have risen higher than grocery prices for the first time since inflation ballooned as well. According to a CNBC report, takeaway food costs is up 8.8% over the last year, while groceries are up 8.4%.
Restaurant Dive reported that restauranteurs are worried about economic conditions, as 43% of them surveyed by the National Restaurant Association in 2022 expected the worse to come.
Even if you decided to celebrate Mother’s Day at home, things were still costly if gifts were involved.
“The average retail price for greeting cards, diamond price per carat, bunched dozen hybrid tea roses, lipstick, and women’s denim jeans,” Investopedia’s report said. “Greeting card price data are from the Greeting Card Association, diamond price data from DiamondSearchEngine, hybrid tea rose price data from the USDA Market News Retail Dataset, and lipstick price data from Edited. All prices have been adjusted for inflation to reflect April 2023 prices with the BLS Consumer Price Index for all items.”