If you’re planning to cook a romantic dinner at home this Valentine’s Day, you’ll be saving a significant amount compared to dining out. Recent Consumer Price Index data shows that it’s increasingly more economical to eat at home rather than at restaurants. Grocery prices have risen by 1.2% year over year, while the cost of dining out has jumped by 5.1%.

This discrepancy highlights the impact of inflation on daily life. Although inflation is slowing, prices remain elevated compared to pre-pandemic levels, leading to mixed feelings about the economy’s overall strength. For President Joe Biden’s campaign, higher food prices, which recently hit their highest monthly rate in a year, could pose a challenge.

The gap between grocery and restaurant food price increases has widened. In January 2023, dining out was cheaper, with food prices up 8.2% from the previous year, while grocery prices had risen by 11.3%.

What’s driving this shift? Post-pandemic, consumers are spending more on services than on goods, increasing wage pressures in sectors like health care, government, and leisure and hospitality, which includes restaurants. “The wage pressures are there,” said Dana Peterson, chief economist at the Conference Board. “Companies in leisure and hospitality are raising wages to attract and retain staff.”

Goldman Sachs economists noted that these price increases reflect the delayed impact of strong wage growth in 2023, though they expect wage growth to slow. In January, service prices, which encompass dining out, transportation, and entertainment, rose by 0.7%, accounting for 148% of the overall 0.3% monthly price increase.

Food items that have become more expensive include fresh vegetables, which rose by 2.4% last month. Notably, tomato prices increased by 4.6% from December to January. This rise is due in part to lower tomato prices in 2022, which led farmers to shift to more profitable crops. “With high prices, wait a few months, and the issue will resolve itself,” said Timothy Richards from Arizona State University.

Conversely, frozen noncarbonated juices and drinks saw the largest price increase over the past month and year, with a 9.9% monthly rise and a 29% increase over 12 months. Weather events, particularly hurricanes, and a severe citrus disease are likely contributors.

On the cheaper side, ham and shelf-stable fish and seafood saw significant price drops. Ham prices fell by 3.1% last month, and shelf-stable fish and seafood prices dropped by 2.9%. Eggs experienced the largest annual price drop at -28.6%, though they rose by 3.4% from December due to a resurgence of bird flu. Lettuce and apples followed with annual price drops of -11.7% and -8.9%, respectively.