Here's what popular Super Bowl foods and drinks will be cheaper this year, and why (2024)

As Americans continue to play defense against rising food costs, overall inflation has finally started to cool down. Yet with food costs remaining slightly up since last year's Big Game, here's what you can expect to spend on Super Bowl food staples if you're hosting Chiefs or Niners fans next Sunday, and the best ways to save.

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Super Bowl Food Prices Explained

Here's what popular Super Bowl foods and drinks will be cheaper this year, and why (1)

The cost of food at home – that is, ingredients or products from grocery stores that you would cook at home – rose 1.3% since last year, according to the latest Consumer Price Index numbers from the Bureau of Labor Statistics, while food away from home – what we purchase at bars and restaurants – jumped by 5.2%. That's something to keep in mind when deciding whether to watch the game at home, or head out to your favorite sports bar.

Some foods are synonymous with Super Bowl Sunday, like chicken wings or chips and dip. In looking at average prices of the popular snacks, there's one food that's a solid pick when it considering which may be the most cost-effective purchase.

Chicken Wings

Americans are expected to consume a whopping 1.45 billion chicken wings during Super Bowl LVII weekend. That's about the same number eaten last year, according to the National Chicken Council (NCC).

However, the U.S. Department of Agriculture (USDA) has reported chicken production levels are slightly down from last year, with wing stocks in cold storage down 13% in volume compared to the same time last year. Citing that data, the NCC suggested that "could explain the higher demand and thus the higher wholesale prices we are seeing on wings."

At the retail level, the price of fresh chicken wings is down approximately 5%, while frozen wing prices are down 11% compared to January 2023, according to a new agriculture report from Wells Fargo and their chief agricultural economist, Dr. Michael Swanson.

"It was a turbulent year for the chicken industry, with high feed costs and outbreaks of Highly Pathogenic Avian Influenza (HPAI) challenging producers," the report stated. "Even so, producers rallied, producing more and heavier chickens, to ensure adequate supply for the big game."

Beef

Here's what popular Super Bowl foods and drinks will be cheaper this year, and why (3)

Record-low cattle numbers have led to record-high retail prices for beef, the Wells Fargo report stated, so adding it to your shopping cart will come with a substantial cost increase over the same time last year, when Kansas City's Travis Kelce and Patrick Mahomes last stepped onto the Super Bowl gridiron.

"The most recent four-week average from early January 2024 showed prices as high as $4.25 per lb., up nearly 12% from the same time last year," the Wells Fargo report stated.

Shrimp

Good news for ceviche, taco and shrimp cocktail fans: the price of fresh shrimp is down nearly 6.4% since last January, at $8.84 per lb., according to the Wells Fargo pre-Super Bowl forecast, which looked at the most recent four-week retail average.

"Global producers flaunted strong production, and they are looking for the U.S. consumer to get in the game by grilling more shrimp or preparing a shrimp ceviche," according to the bank's agriculture analysis.

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Chips and dip

The must-have Super Bowl snacks highlight the notion of paying more for the brand on the bag.

Wells Fargo found that "while commodity categories have seen faster slowdowns or outright declines, items with major brand names have seen steeper increases."

Tortilla chip prices increased by 6% year over year by the end of December 2023 and potato chips were up 5% in the same time period, mainly due to the effect of labor and packaging factors.

Guacamole and avocado dips, however, are only up 1% from last December, thanks to stronger supply from the key Mexican growing region.

Salsa prices are up 3% for the same time period, which again is largely due to the same theme of prices rising to reflect increased labor and packaging costs.

To save money, analysts recommend opting for alternative brands and checking with local producers to find more value ahead of the Super Bowl.

Beverages

Here's what popular Super Bowl foods and drinks will be cheaper this year, and why (7)

The cooler, whether keeping drinks on ice or being used for overflow seating, is a key player at any Super Bowl celebration. Wells Fargo economists found that while beer prices rose less than one full percent since last year, the average price of a cold beer has settled to around $1.75 per pint.

As for soft drink options, the price differences largely come up when looking at the price of single cans versus two-liter bottles.

"Late December 2023 data showed soft drinks in a 12-ounce can priced at $0.57, up 4.8% from year end 2022," the report said. "In contrast, the same soft drinks in a 2-liter bottle carried a price of $2.11, down 0.8% from December 2022."

That price difference, Wells Fargo reported, is driven by the cost of aluminum, and by consumer preference for the convenience of individual cans.

"It should be noted that soft drinks as a category have seen the highest food inflation spike since the start of COVID in 2020, with the 12-ounce can category up 57% and the 2-liter bottle category having increased by 33% since that time," the analysts added.

Introduction

As an expert and enthusiast, I have access to a wide range of information on various topics, including Super Bowl food prices. I can provide you with insights and details based on the information available to me. Let's dive into the concepts mentioned in this article.

Super Bowl Food Prices

The article discusses the cost of food staples for the Super Bowl and provides information on the prices of various items. Here's a breakdown of the concepts mentioned:

1. Food at Home vs. Food Away from Home: The article mentions that the cost of food at home, which includes ingredients or products from grocery stores, rose by 1.3% since last year. On the other hand, food away from home, which refers to purchases at bars and restaurants, jumped by 5.2%.

2. Chicken Wings: The article states that Americans are expected to consume a large number of chicken wings during Super Bowl LVII weekend. However, the U.S. Department of Agriculture (USDA) has reported slightly lower chicken production levels compared to last year, resulting in higher wholesale prices for wings. At the retail level, the price of fresh chicken wings is down approximately 5%, while frozen wing prices are down 11% compared to January 2023.

3. Beef: The article mentions that record-low cattle numbers have led to record-high retail prices for beef. The price of beef has increased by nearly 12% compared to the same time last year.

4. Shrimp: The article states that the price of fresh shrimp is down nearly 6.4% since last January. Global producers have increased production, leading to a more affordable price for consumers.

5. Chips and Dip: The article highlights that the prices of tortilla chips and potato chips have increased by 6% and 5% respectively compared to the previous year. These price increases are mainly due to factors such as labor and packaging costs. However, guacamole and avocado dips have only increased by 1% thanks to stronger supply from the key Mexican growing region. Salsa prices have increased by 3% due to similar factors.

6. Beverages: The article mentions that beer prices have risen less than 1% since last year, with the average price of a cold beer settling around $1.75 per pint. Soft drink prices vary depending on the packaging. Single cans have seen a 4.8% increase in price, while two-liter bottles have decreased by 0.8%.

Conclusion

These are the key concepts discussed in the article regarding Super Bowl food prices. If you have any specific questions or need further information, feel free to ask!

Here's what popular Super Bowl foods and drinks will be cheaper this year, and why (2024)
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