What are you handing out to trick or treaters this year? Mr. Big bars? Oh Henry bars? 100 Grand bars? Well, whatever you plan to hand out in a few days be prepared to dole out a greater portion of your Payday.
A new report suggests that consumers can expect to pay more for Halloween candy this year. That’s right. Halloween candy prices are slated to hit a four-year high.
All of your favorites will be more expensive this year – or at least smaller (SEE: Shrinkflation: Cadbury’s Daily Milk bar getting smaller in Australia) – and this spells bad news for the millions of Americans who are projected to dole out more than $2.2 billion come Halloween, or about $18 per household. Now that’s a frightening figure.
According to a report from IHS Global Insight, candy prices – defined as the yearly adjustment in the candy and chewing gum sub-index of the consumer price index (CPI) are set to rise 4.2 percent this month. Moreover, cocoa prices are also going up in prices because of the El Nino weather patterns.
This comes as spending on Halloween candy will climb 0.7 percent, the lowest growth in six years.
“The creepy element about this year’s Halloween candy expenditures is the scary prices,” the analysis says. “Between 2005 and 2011, Halloween candy prices were creeping up at a rather fast pace. Between 2012 and 2014 Halloween candy prices were rather flat; however, candy price inflation has accelerated recently since global raw sugar and refined sugar beet prices have started increasing and U.S. cocoa powder prices are on the rise.”
If you want to eat as much candy as you want then wait until Nov. 1. This is the day when most retailers slash their prices by about half. Then you can get some cavities and lose as much teeth as you want.
Leave a Comment