HOUSTON, Feb. 4, 2013 /PRNewswire/ -- While cost of living benefits for Social Security recipients increased 1.7 percent this year, consumers will be spending a total of 2.38 percent more for the most popular Valentine gifts, according to the annual "Cost of Loving Index."
Compiled by Houston Asset Management, a Houston-based investment advisory firm, the Cost of Loving Index has been tracking the price of nine popular love-expressing gifts since 1990. This year it reveals increases for three items, one decrease and a lot of stability.
Spoiling your loved one with imported Chanel No. 5 perfume stinks at a skyrocketing increase of 14.04 percent. Those fancy Godiva chocolates in a heart-shaped box are a little less sweet at a cost of 5.26 percent more than last year, while the price of a designer silk tie increases 3.45 percent.
But the majority of gifts on the list remained the same price and you can spend about nine percent less expressing your affections with a candlelight dinner for two, which represents the only price decrease on the index.
"I don't remember another year since the inception of our Cost of Loving Index 23 years ago when the majority of gifts we track stayed at the same price points," said Bob Frater CFP®, CEO of Houston Asset Management. "Five of the nine gifts come in at the same price and that may reflect some stability in the market. But overall, since 1990 we have seen over a two and a half percent increase in these prices. That may not be so bad for true romantics."
According to the National Retail Federation, last year the average American celebrating Valentine's Day shelled out $126.03, up 8.5 percent over 2011. About 36 percent of them bought flowers and the Cost of Loving Index reveals a price of $129.07 for delivery of a dozen long-stemmed roses, the same as last year.
Highlights of the "2013 Cost of Loving Index" by Houston Asset Management
- A $250 romantic candlelight dinner for two at a fancy restaurant is back to its 2011 level and dropped 9 percent
- The cost of two tickets to a first-run movie and a Valentine's Day greeting card remained the same
- A toast with a bottle of Simi California Chardonnay is constant at $25.85
- For a personal gift, the price of a silk designer nightie for her hasn't changed since 2011 at $68 while the designer silk tie for him increased 3.45 percent after remaining constant for several years
About Houston Asset Management Inc.
Founded in 1980, Houston Asset Management is a full-service registered investment advisory firm offering financial planning and investment advisory services. The firm works in partnership with its clients to provide prompt and efficient solutions to problems and achievement of clients' objectives. The experience level attained by the associates at Houston Asset Management averages more than 37 years. For more information visit www.houstonassetmgmt.com. Houston Asset Management is located at 1800 West Loop S, Ste 1980, Houston, TX 77027, (713) 629-1534. Securities offered through SagePoint Financial, Inc., member FINRA/SIPC. Investment advisory services offered through Houston Asset Management, Inc. a registered investment advisor not affiliated with SagePoint Financial, Inc.
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SOURCE Houston Asset Management Inc.