Love in a Time of economic down-turn: How Much Will Valentine’s Day Cost You?

Is this year’s valentine’s day endeavor to look any different?

This Valentine’s Day in Ghana is set to look maybe/not different after a year of record food inflation that has sent up prices of everything from petroleum prices, and flowers to chocolates and dining in restaurants.

Food Inflation in Ghana averaged 10.82 percent from 2013 until 2022, reaching an all-time high of 59.70 percent in December of 2022.

According to Trading Economics global macro models and analysts, food Inflation in Ghana is expected to be 48 percent by the end of the first quarter in 2023.

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

Last year, on 14th February 2022 in all regions and universities, the Annual Valentine’s Day movie night tradition graced most parts of the country.

Movie premiers over the years have characterized valentine’s day celebrations in Ghana.

Priced to make the best out of the day, movie producers double their ticketing price.

Checks from the Ghana Tourism Authority revealed, that eating at restaurants in December 2022 cost 9.4% more than all the other months of the year in Ghana.

Other expenses associated with date nights – from flowers and cinema tickets to taxis also rose.

On February 14, 2022, big companies and restaurants hiked prices, people paid 10.7% more for chocolates.

How much more in 2023 times have become tougher in Ghana

One may argue that times have progressively become difficult in Ghana over the years but Ghanaians heavily celebrate occasional days like there is no worry for tomorrow.

The nights out on the chocolate day in Ghana have over the years seen a decline for most people observing it than celebrating.

An increase in petroleum prices which in turn affects everything in Ghana will have a similar impact on this year’s Valentine’s day celebration.

Valentine’s Day is celebrated to remember the life and legacy of Saint Valentine and to express love and affection toward others.

But how do you express your love and affection towards others in tough times?

Ghana has been saddled with economic difficulties from 2022 to date.

Prices of goods and services have shot up, the cedi has lost ground to the dollar making it unbearably difficult to assume a middle-class status for most Ghanaians pushing the standard of living very high.

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 is pricing its four-course set Valentine’s menu at 395 pounds per person, up from 325 pounds last year.

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

Elsewhere in Europe, a similar trend has taken hold.

Luxury hotel Le Bristol in Paris, for instance, is this year charging upwards of 2,190 euros ($2,338) for its “seductive 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 euros.