Prices are up, but Mother's Day still means brunch
NPR • • general
Key Points:
- Economist Michael Swanson advises celebrating Mother's Day with a homemade buffet to save money, as dining out costs are rising faster than grocery prices.
- Mother's Day is the busiest day for U.S. restaurants and a major sales day for florists and greeting-card sellers, with spending expected to reach a record $38 billion, an 11% increase from last year.
- Despite rising gas prices, consumer spending on flowers, cards, jewelry, clothes, and electronics remains strong, with restaurant reservations up significantly compared to last year.
- Egg prices have dropped nearly 45% compared to last year, benefiting brunch-focused restaurants, while beef prices have increased over 12% due to smaller cattle herds; overall dining out costs rose 3.8% versus 1.9% for groceries.
- High gas prices are impacting budgets, causing some scale-back in weekday spending, but holiday business remains robust as people prioritize special occasions like Mother's Day.
