Valentine's Day spending is expected to increase to about $23.9 billion this year as prices rise due to inflation.

The spike in spending is bigger than last year, which was $21.8 billion.

The price of most items is up everywhere, according to Caleb Silver, of Investopedia.

Silver says a traditional Valentine's Day steak dinner will cost extra because beef prices are up more than 60% across the country. He says pricier cuts of meat like filet mignon are up 62.5%

However, Silver says Connecticut seafood prices are still OK, and consumers can expect to find good deals on oysters and other seafood in that state.

Silver says a traditional bouquet of a dozen roses are up 54.5%, a box of chocolates up 9%, and a bottle of red or white wine or a bottle of champagne are all up 2.5%.

Even more expensive gifts like diamonds are up 14.9%, while gold and silver prices have come down from last year.