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Red roses wrapped individually in cellophane wait for Valentine shoppers

In this file photo, red roses wrapped individually in cellophane wait for Valentine shoppers at the Milton Hershey School Valentines Day flower sale, in Hershey, Pa. (AP Photo/Carolyn Kaster, file)

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Valentine's Day spending to reach $17 billion

Men are predicted to spend more than women

Updated: Monday, 06 Feb 2012, 12:08 PM EST
Published : Monday, 06 Feb 2012, 12:06 PM EST

NEW YORK (CNN) - They say money can't buy you love. Tell that to the Americans who will shell out an estimated $17.6 billion this Valentine's Day.

A survey by the National Retail Federation predicts the average person plans to spend about $126, up nearly nine percent from last year.

Men are predicted to spend more than women, shelling out close to $169 compared to their female counterpart's $86.

Jewelry purchases are expected to reach roughly $4 billion, up from $3.5 billion last year.

The second most popular gift - a special evening out - could rake in about $3.5 billion from consumers. Billions more will be spent on flowers, candy, clothing and gift cards.

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