The spending disparity between Father’s Day and Mother’s Day may be narrowing, according to the National Retail Federation and Prosper Insights & Analytics.

The organizations forecast that a record-breaking $24 billion would be spent on Father’s Day this year, surpassing the previous mark of $22.9 billion in 2023. They say consumers planned to spend an average of $199.38 on their dads and father figures this year.

Of course, that still pales in comparison to this year’s $259.04 average planned for moms, which totals about $34.1 billion, or $10.1 billion more than Father’s Day spending. That is a 21% smaller gap than the $12.8 billion difference there was between Mother’s Day and Father’s Day spending in 2023. — Associated Press