The New York Post reports, As record levels of inflation have increased candy prices, trick-or-treating this Halloween may not yield as many sweets as previous years.
Last month, the price of candy and chewing gum jumped 13.1%, the biggest jump ever recorded in inflation statistics.
According to analysts, the sharp price increase is due to soaring sugar costs, which were exacerbated by drought conditions that affected beet-sugar crops in the northern part of the country.
The Bureau of Labor Statistics reports that the overall cost of sugar and sweets increased by 14.4% last month. Last month, sugar and sugar substitutes saw a 17.1% increase in price, according to the BLS.
Candy is not the only Halloween item that is rising in cost this year thanks to inflation. Pumpkins are also soaring in price.
Here’s the TODAY show with more:
A record $10.6 billion is expected to be spent by Americans this Halloween on costumes, decorations, cards, and candy, according to the National Retail Federation.
Due to rising sugar and cocoa prices, families will have to pay more for beloved brands like Hershey, Nestle, and Mars.
Hershey, which makes Twizzlers, Reese’s, Kisses, and KitKats, announced a 14% price increase this summer.
As a result of stubbornly high food and rent prices, the Labor Department’s Consumer Price Index rose 8.2% in September, as we reported last week.
In September, core inflation spiked from 6.3% to 6.6%, excluding volatile food and gas prices.
Halloween is supposed to be a spooky, fun holiday, but this year parents are really getting scared – by the price of candy. Biden has really screwed things up for Halloween with his policies leading to soaring candy prices. It’s enough to make us want to bring back Trump just to “make Halloween great again.” We can only hope that these outrageous candy prices don’t deter families from loading up on sweets this year – I mean, what’s Halloween without copious amounts of candy? But while we may have to pay more for our beloved treats like Reese’s and Twizzlers this year, at least we can take comfort in the fact that it’s all Biden’s fault. So when you’re agonizing over that receipt for your kid’s halloween haul, just remember – it’s Biden who caused the true horror of this Halloween season.
