Valentine's Day: See how much money will be spent on flowers, card, night-out

RALEIGH, N.C. (WTVD) -- How much will Valentine's Day cost this year?

According to a recent National Retail Federation survey, people are expected to spend a record $27.5 billion. This is up from last year's $25.8 billion and slightly above the previous record of $27.4 billion set in 2020.

Shoppers will spend an average of $188.81, up about $3 from last year, NRF said.

"Whether they are celebrating a significant other or someone else in their lives, Valentine's Day is meaningful for many people," NRF Vice President of Industry and Consumer Insights Katherine Cullen said. "Consumers are looking for special ways to treat their loved ones and can expect retailers to provide the best gift options and deals."

SEE ALSO | Beware: Imposters busy with Valentine's Day-related schemes to steal your money

The most popular gifts this Valentine's Day include candy, flowers, greeting cards, an evening out and jewelry.

According to Finance Buzz, the average prie for a dozen red roses in the United States is $90.50, a 2% increase from last year.

If you plan on making reservations, the U.S. Bureau of Labor Statistics says inflation is also coming to dinner. Goods like eggs and meat have continued to rise in January.

The 'food away from home' price increased by 3.4% in January compared to last year.