Bidenomics makes even Halloween scary as candy prices soar by double digits
Some consumers plan on ending the night earlier than planned after they run out of candy while others are buying cheaper brands.
Halloween candy inflation is up by double digits for the second year in a row, with prices 13% higher this October compared to the same time last year, according to new data.
Prices of candy and gum in October 2022 had already increased by 14% from the previous year, The Associated Press reported over the weekend, citing data from retail price tracker Datasembly.
"The price of candy has gotten to be outrageous," small business owner Jessica Weathers, who lives in the 14,400-resident village of Shiloh, Illinois. "It doesn’t make sense to me to spend $100 on candy."
Weathers said she only bought two bags and plans to turn off her porch light on Halloween when she is out.
Other consumers say they are buying different candies. Market research firm Numerator said its surveys show that about one-third of U.S. customers say they plan on buying cheaper types of candy instead.
The increased candy prices come as cocoa prices are at 44-year highs following increased rain in West Africa that limited production.
"There may be no price relief in sight, at least through the first half of 2024," said Dan Sadler, an official at market research firm Circana.