Being in love will cost you; Valentine's Day gift prices climb

You can’t put a price on love, but if you want to get your loved one something for Valentine’s Day, it’ll likely cost you more this year.

No holiday has been spared from inflation so far and Valentine’s Day is no exception. Whether you want to buy your special someone candy, wine or a teddy bear, prices increased from last year.

Here’s a breakdown of the increases from 2022 to 2023, according to data from ecommerce brand Pattern.

• Candy costs 23 percent more
• Teddy bears cost 12 percent more
• Wine is up 5 percent
• Candles cost 3 percent more
• Chocolate cost 2 percent more

Sam Ratto is the owner of Videri Chocolate Factory in Raleigh. He tells WRAL 5 On Your Side that prices from suppliers went up 10 to 35 percent during the height of the pandemic. His prices went up in 2020 to accommodate the rising cost of beans, sugar and shipping.

“All of our shipping costs have gone from $300 a shipment to $600 or $700 a shipment,” Ratto explained.

Despite rising costs, Ratto has kept his prices the same for the last two years, following the initial hike. When asked if he saw prices lowering in the future, he told WRAL 5 On Your Side that was unlikely.

“If an iPhone is not going to get any cheaper, chocolate and food are not going to get any cheaper,” Ratto said.

Valentine’s Day is an extremely busy time for Ratto and his team at Videri. He tells 5 On Your Side that his customers have always been willing to pay a premium for their high-quality chocolate. Giving his workers and the farmers Videri works with a fair wage also factors into their prices.

“Everybody who works here makes $15 an hour or more,” Ratto said. “We also recently switched all our salaried workers from 40 hours to 36 hours without changing pay.”