Love in time of inflation: How much will Valentine's Day set you back?

This Valentine’s Day is set to look different after a year of record food inflation that has sent up prices of everything from flowers to chocolates and dining in restaurants.

Covid-era supply chain logjams and Russia’s invasion of Ukraine have meant that Britons paid a record 16.7 per cent more for food in the four weeks to January 22 compared to the same period last year, according to research firm Kantar.

As a result, romantic Valentine dinners out will cost more and restaurants are modifying their offerings to attract cash-conscious customers.

Last year, British restaurant chain PizzaExpress offered a three-course set menu complete with “a prosecco and raspberry mimosa, heart-shaped dough balls and a main, such as our Padana, with creamy goat’s cheese and sweet caramelised onion”.

Priced at £23.95 ($29) per person, the ad for the meal asked: “Will the Triple Salted Caramel Cheesecake tickle your fancy?”

This year, PizzaExpress is advertising a slightly less impressive “love bundle” of a starter and a “classic” pizza for £15 ($18.13).

According to the latest data from Britain’s Office of National Statistics, eating at restaurants in December cost 9.4 per cent more than last year.

Other expenses associated with date nights - from flowers and cinema tickets to taxis and childcare — also rose. As companies such as Mondelez, Nestlé and Lindt hiked prices, people paid 10.7 per cent more for chocolates.

The nation’s supermarkets are seeking to cash in, keeping prices for their Valentine’s Day meal-deals stable in the hope of luring customers from restaurants.

Morrisons is selling a £15 package for a starter, main, two sides, drink and dessert. Its members will get £1 off a dozen fresh red roses from February 11, the retailer said. The price of flowers rose 6.2 per cent in Britain in December.

Tesco, whose CEO recently noted that consumers are shifting away from eating out, has reduced the price of its Valentine’s Day dinner-for-two to £12 — down from £15 last year —for a main, side dish, dessert and drink.

Sainsbury’s has tied up with Uber Eats to offer £15 “emergency bundles” 

of a three-course meal, drinks and gifts with free delivery in parts of East London.

“It’s an opportunity for the supermarkets to sell their premium ranges to people who wouldn’t normally buy them,” said Chris Beckett, head of equity research at investment firm Quilter Cheviot. “That could lead to repeat purchases in the future.”

Even diners with deeper pockets will have to dish out more this year.

London’s Michelin-starred Ritz Restaurant, whose ad boasts “breathtaking interiors” with spectacular garland chandeliers and romantic twinkling candlelight all reflected in the mirrored panels”, this year priced its four-course set Valentine’s menu at £395 ($477.51) per person, up from £325 ($392.88) last year.

Both years, the deal included a glass of Barons de Rothschild “Ritz Reserve" RosÃNV Champagne and a menu created by the Ritz’s Executive Chef John Williams, Member of the Order of the British Empire.

In Europe, Luxury hotel Le Bristol in Paris, for instance, is this year charging upwards of €2,190 ($2,338) for its offer that includes a room for one night, late check-out, a gastronomic dinner for two, chocolate, and a bottle of champagne. Last year, a similar experience cost €1,090 ($1164.11) .

The Ritz and Le Bristol did not respond to a request for comment. PizzaExpress said: “This year it’s a different offer, available for a longer period, and customers in the PizzaExpress Club can unlock an even greater saving.”