"Inflation and rising interest rates are playing a role. The unfortunate truth is that you'll likely have to spend more this year to get the same things you got for last Valentine's Day, so the small reduction in spending we're seeing is a bit bigger pullback than it might appear.”

LendingTree chief credit analyst and personal finance author Matt Schulz commenting on the LendingTree survey, “52% of Americans Would Skip Valentine’s Day if They Could, but Those in Relationships Will Spend an Average of $180 This Year,” that revealed consumers will spend an average of $180 this Valentine’s Day, just shy of last year's $187. He added, “High prices and tight budgets require sacrifices, and some people may see Valentine's Day as an opportunity to dial back their spending."