Couples’ wallets won’t feel the love this holiday as date night costs soar by 4% to 23% more than last year
CHICAGO (Feb. 14, 2022) – While couples across Illinois celebrate Valentine’s Day, gathering for a date night comes with a painful reminder: Inflation has made virtually everything more expensive in the past year.
According to the most recent consumer price index data, inflation jumped 7.5% from January 2021 to January 2022 – the highest level since 1982.
The costs add up when accounting for date night activities, analysis by the Illinois Policy Institute shows. Flower prices are up 4%, while candy and jewelry are up 4.8% and 6.5%, respectively. Dinner and a show come with a 7.1% and 5.5% higher ticket, while staying in a hotel is 23.6% more costly than last year.
“Inflation over date night hits harder in Illinois this year, where prices on goods and services have been rising faster than wages,” said Bryce Hill, senior research analyst at the Illinois Policy Institute. “Rising prices are not only an inconvenience, but they can also threaten people’s way of life.”
The state saw only 3.6% growth in average weekly earnings while 333,000 Illinoisans are still out of work, making the state’s job market one of the least recovered from the pandemic-related downturn.
Experts at the Illinois Policy Institute point out inflation follows a long line of taxes that have eaten into Illinoisans’ purchasing power. State taxes and fees have gone up by nearly $5 billion annually since Gov. J.B. Pritzker took office.
“While the governor is proposing temporary ‘tax relief’ for this fiscal year, unless these changes become permanent, they’re simply an election-year gimmick that will leave Illinoisans to battle higher prices and taxes next year,” Hill said.
To read the article and see the full list of inflation increases, visit illin.is/vdaycosts.
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