Holiday ghosts and ghouls will feel the bite of rising prices for candy and chocolate this Halloween, recent industry reports suggest.
The average national price for candy and gum is up by 13% this month from October 2022, according to Datasembly’s Grocery Price Index, which tracks weekly changes at more than 150,000 stores nationwide. By comparison, overall grocery prices have risen by 6.2%.
“Despite this spike, the shelf level changes we’re seeing across out-of-stock rates suggest that consumer demand continues,” Brad LaRock, a vice president at the retail data collection firm, told The Washington Times.
Several retail analysts told The Times that two years of rising prices for sugar cane, cocoa, nuts and packaging have combined with increased interest in Halloween to squeeze wallets more tightly this year.
“Thanks to inflation, Halloween is becoming a trick for Americans with wallets,” said Michael Austin, a former economic adviser to two Kansas governors and a scholar at the conservative American Enterprise Institute.
Read the full article on The Washington Times.