MANILA, Philippines – If you were planning to make a romantic dinner for your partner on Valentine’s Day, be prepared to spend more.
Despite inflation remaining steady at 2.9% in January, the ingredients you need to make that intimate meal have gotten pricier.
Tomatoes, for instance, recorded 155.7% inflation in January, while inflation of meat prices quickened to 8.5%.
The PSA noted that the rising cost of vegetables and fruits were some of the leading contributors to January’s inflation print.
For those planning on going to a romantic restaurant or watching a romantic film at the cinemas, however, the good news is inflation has eased for these activities. But getting there may be more expensive as inflation of overall transport prices accelerated amid high petroleum prices in the global market.
As for couples planning on going on a staycation, inflation of accommodation rates have slowed.
Flowers are always a bestseller during the month of love. Flower prices will vary depending on the type of flower and the quantity you intend to give to your loved one.
A bouquet of roses will set you back around P1,000 to P2,399, depending on where you’re getting them from.
Mindful purchases
As inflation began to ease post-pandemic, a data analysis by Visa Consulting & Analytics found a rise in active card transactions in February 2024 compared to the year prior.
However, Visa also found that Filipinos were spending less per transaction, suggesting that inflation and higher prices have led consumers to be more mindful about their Valentine’s spending.
“Visa’s latest Green Shoots Radar Survey reveals that many Filipinos are adopting a more budget-conscious approach this year. Instead of splurging on luxury items, they are focusing on experiences that create lasting memories,” the company said in a report.
Data from the Philippine Statistics Authority (PSA) showed household spending slowed in 2024 to 4.8%.
As inflation tightens household budgets, Visa found that Filipinos turned to handmade gifts and crafts to show their appreciation for their loved ones. “Custom gifts, handmade creations, and intimate dinners are the go-to choices this season, reflecting deeper emotional connections,” it said.
A December 2024 Social Weather Stations (SWS) survey found that 19% of Filipinos just want love and companionship on heart’s day amid rising costs.
This surpassed money (10%), Filipinos’ most requested Valentine’s gift in 2023. – Rappler.com