Prices of staple Halloween products such as candy and costumes have increased in the U.S. in 2024, according to data analyses.
While U.S. inflation dipped down slightly in September, many consumers are still concerned over high Halloween-related prices. Many holiday shoppers have turned to buying less expensive types of Halloween candy amid record-high chocolate prices, according to The Wall Street Journal.
Total Halloween spending this year is expected to reach $11.6 billion, according to a survey from The National Retail Federation (NRF) conducted by Prosper Insights & Analytics.
The most expensive Halloween candy this year is 3 Musketeers, with an average current price of $0.79 per ounce, according to data from CouponFollow. The price of chocolate candy has jumped to 43% this year, while some other varieties of candy experienced a 20% price increase this year, according to CouponFollow.
Assorted Halloween candy bags displayed on store shelves, Lafayette, California, September 9, 2024. (Photo by Smith Collection/Gado/Getty Images)
Global sugar and cocoa prices have “skyrocketed,” with chocolate prices rising 17% in the US over the past two years, according to an Oct. 24 press release from Euromonitor International. Halloween products were released in stores much earlier than expected this year in an attempt to give holiday shoppers additional time to shop and budget, according to the press release.
The price index for chocolate and confectionery manufacturing from cocoa rose by about 45% from January to September this year, according to Federal Reserve Economic Data (FRED). This increase in chocolate prices is partly due to to weather conditions impacting the harvest of cocoa beans in West Africa, according to KFDA.
“Bad weather and things like that have led to bad harvest,” West Texas A&M University professor Neil Meredith said, KFDA reported. “It has not been a good year for the cocoa bean crops they then use to turn into cocoa and cocoa is then, you know, a main ingredient for making chocolate.” (RELATED: Kmart To Shut Down Last Full-Scale Store)
The cost of popular Halloween costumes for children have also risen, according to CouponFollow. A trending kids Halloween costume of the Pokémon character Charizard is one of the most expensive this year at $65.01, closely followed by a Wolverine superhero costume costing $56.93, according to CouponFollow.
The inflated cost of Halloween goods are not the only prices worrying American shoppers, as 31% of families said they were worried about back-to-school shopping causing them to have debt, according to a Bankrate survey published on Aug. 19.
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