Video Story
Watch VideoInflation hitting Mother's Day
Story By: Bea Karnes
Source: NBC
According to the National Retail Federation, Americans will be cash-conscious this Mother's Day, spending less than they did a year ago. Dining out and jewelry still top the lists for Mother's Day gifts. Flowers and treats aren't far behind.
But the rising costs of oil and gas have affected nearly every business celebrating mom's big day. From the flour used to make sweets, to sweet-smelling flowers, the cost of honoring mom this mother's day has gone up. "I've been doing this for 40 years and I've never seen anything like it," Mazur’s Bakery owner Joe Spiekermann said.
Spiekermann, and other bakery owners have seen prices for ingredients soar in the past six months. Egg prices have tripled and flour is now known in the business, as white gold. A 100 pound bag that once cost $15 dollars now sells for $66 and could climb to $100 by summer. As a result Spiekermann had to raise prices on most items between 25 and 30 percent.
"It's all about surviving, not making money today, its about staying in business," Spiekermann said. At Lyndhurst Flowers, fuel surcharges forced Dennis McSweeney to raise delivery fees and flower prices by 20 percent.
The price for a dozen premium roses is even higher. "Last year probably about $50-55 dollars, and now around $70-75 dollars for the same thing," florist Dennis McSweeney said. In order to say within his budget, Joe Miele is choosing carnations instead. "Little more affordable. About half the price, carnations," Miele said.
"The National Retail Federation estimates overall spending this mother's day will be slightly down compared to last year. Flower sales will be down 13 percent.
But no matter how much or how little you spend, most agree, this is one day you don't want to miss."
The majority of those polled for the National Retail Federation survey, say they are likely to put their money toward one main gift instead of buying several gifts for mom this year.
