Food

Halloween candy prices jump 8% across the US

Despite the higher price tag, shoppers will still spend around the same amount on candy as they did last year. ©Image Credit: Unsplash / Douglas Clark

If you're already feeling the pain in your wallet each time you visit the grocery store, you're in for another unpleasant surprise. Halloween candy prices have soared more than 8% this year.

Prices increased at twice the rate of overall inflation

If you thought overall inflation was coming in hot, Halloween candy prices will have you shocked. They have gone up 8.1% compared to last year, which is twice the rate of overall inflation.

A survey released by the National Retail Federation (NRF) shows that Americans are expected to shell out $4.1 billion on Halloween candy this year. That's no small number.

Customers are keeping affordability in mind

Despite the expectation that billions will be spent on Halloween candy this year, consumers are wary of their budget.

"Consumers continue to make Halloween a spending priority, but they are also approaching the season with affordability in mind," NRF Vice President of Industry and Consumer Insights Allison Zeller said in a statement.

The data shows that shoppers are expected to spend around $115.14 per person on Halloween purchases this year. This is very close to last year's average spend, which was $114.45. Considering people will get less for their money this year, that could mean purchasing fewer pieces of candy to stay within budget.

Money-saving tips are proving popular

Budget-conscious consumers are turning to simple strategies to stretch their holiday dollars. Many have said they are comparison shopping this year, and that they started buying their candy at least a month ago to take advantage of in-store sales. It has also helped them spread out the costs over a longer period. Discount retailers remain the top choice for buyers, attracting 39% of all Halloween candy shoppers.

Halloween on a budget

The good news for trick-or-treaters is that Halloween will still be big this year, but if you're the one buying the candy, deals, promotions, and discount retailers are your best options.

Source: Fox Business

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