Prices of Halloween candy have gone up by more than 10% for two years in a row, and they’ve gone up a huge 13% since October of last year.
A company that tracks store prices says that the 13% average price hike for candy is over twice as much as the 6% rise in prices for other groceries. Datasembly reviewed sales data from more than 150,000 shops in more than 30,000 zip codes, which is more than 200 different retail brands.
Just the price of chocolate has gone up by almost 12%.
The nationwide candy inflation of this year is really not as bad as the 20% spike in candy prices that occurred between October 2021 and October 2022.
Prices for candy are going up, especially in states on the East Coast.
The prices went up by 14.7% in Vermont, 14.2% in Maine, and 14.2% in the state of Pennsylvania.
In other places, prices have gone up less. In Ohio, they went up 8.1%, in Michigan they went up 7.5%, and in Alaska they went up 7.1%.
A mixed bag of 375 miniature M&Ms, Twix, and Snickers can be bought at Walmart for $49.98.
A variety pack of eighteen full-size Snickers, Twix, Three Musketeers, and Milky Way can be purchased at Target for $16.99.
Numerator polled 4,500 individuals across the US with regard to their Halloween plans and found that approximately a third planned to purchase store-brand or just value candy to provide trick-or-treaters this Halloween.
Also, only 61% of respondents said they were going to be celebrating Halloween this year, which is down from 65% last year. At the time of the poll, though, some people were still not sure.
This week, Hershey, the company that makes chocolate, admitted that price increases are lowering demand.
In the past seven quarters, Hershey has increased its pricing by a minimum of 7%. Additionally, the company’s candy sales volumes in North America decreased by 1% from July to September.
“We are aware that consumers prioritize value and affordability even in times of tight budgets,” Michele Buck, president of Hershey’s, stated while on a conference call with some investors this week.
“Even though candy price hikes have slowed down, the rise over the last year will add to the record inflation seen last year,” Datasembly stated in its study. “Manufacturers hope that candy will continue to do well with consumers’ extra money even though people are growing more selective and cautious with their money because of the economy.”
People in the US have been very worried about inflation since the pandemic, especially when it comes to the cost of food, gas, and other basics.
A lot of Southern California counties saw gas costs go through the roof again in September, with an average of more than $6 a gallon.
The Alliance for Consumers released a new study this past week that said the rules and laws of the Biden administration might have caused American homes to cost an extra $9,000. This is because of price increases for washing machines, cars, gas stoves, and dishwashers.
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