Romantic couples face having to shell out 15% more on flowers and gifts this Valentine’s Day

If you’re planning to celebrate Valentine’s Day on Tuesday, you may need a healthy bank balance as well as a romantic disposition.

Because everything from red roses to a special meal out has surged in price.

Amid increases across the economy, many planning to mark to occasion on Tuesday are expected to spend less on loved ones.

The price hikes are largely driven by higher energy costs linked to Russia’s invasion of Ukraine, with the cost of gas increasing six-fold.

It means flower growers in Holland have faced massive rises in energy bills to heat the glasshouses producing roses, tulips, chrysanthemums and many other popular flowers.

Many growers shut their greenhouses, causing a fall in supplies. Wholesalers have had to turn to imports from South America and Africa, with huge transport costs. Most of these are imported to the UK via Holland and, after Brexit, they can carry a tariff.

The net effect has been to push up the wholesale price of red roses and other flowers by 10-15 per cent, with florists passing this on.

John Davidson, of Tom Brown Flowers, which delivers to more than 1,000 florists across the country, said: ‘We are having to pay 10-15 per cent more for red roses from Holland. As a company, we are bringing in more roses from Ecuador. It’s a huge increase and probably makes up 65 per cent of what we are supplying to florists. We are trying to absorb the extra costs as best as we can, given the cost of living situation.’

At Interflora, which delivers to tens of thousands of homes through local florists, the price of six red roses is up from £37 to £40 and a dozen from £60 to £64.

Young couple (file photo). Amid increases across the economy, many planning to mark to occasion on Tuesday are expected to spend less on loved ones

Similar rises are being seen with other popular options such as tulips and lilies.

Flower industry expert Caroline Marshall-Foster, of The Florist Magazine and the Good Florist Guide, said: ‘Like every part of the global economy, flower prices have gone up.’

But she added there were still plenty of flowers at every price point and it did not need to be a red rose to be meaningful.

Restaurants and pubs are also passing on increases in costs to customers, as well as retailers with special offers.

Fortnum & Mason, for example, offered a Valentine’s Day hamper, including fine food and fizz, for £125 last year, but the equivalent this year is £145 – up 16 per cent.

At Wetherspoons, a Valentine’s meal deal is up from £20 last year to £22 – a rise of 10 per cent. It is part of a wider 7.5 per cent rise in food prices at the chain.

A survey by the website TopCashback found two in five admit their plans for Valentine’s Day have been hit by the squeeze, while two in three will celebrate at home instead of going out.