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Keeping the neighborhood ghouls happy this year is going to cost you a fair bit more, as candy prices have recorded their highest jump on record this year.
The cost of candy is up 13.1% compared to last Halloween, according to the most recent inflation report from the Bureau of Labor Statistics. How big a leap is that? Basically, add up all of the increases from 1997 through 2006 and it’s roughly on par.
Inflation, of course, is impacting all areas of consumer spending—but Halloween could be a litmus test for the upcoming holiday seasons. The National Retail Federation says Americans will spend $10.6 billion on Halloween this year.
That’s more than candy. It also includes costumes and lawn decorations, which have been increasingly popular in the past few years. The group says the average consumer will spend $100 this year, a bit less than last year’s $103.
If that holds true, it could be a sign that, despite soaring prices, consumers are still willing to splurge for the holidays somewhat.
A separate study from CandyStore.com predicts candy spending will hit $3.1 billion this Halloween. And, if so, what will people be spending it on? A look at 15 years of historical data by the website shows that the most popular treats are Reese’s Cups, Skittles, M&Ms, Starburst, Hot Tamales, Sour Patch Kids, Hershey Kisses, Snickers, Tootsie Pops and Candy Corn (really, people?)
Most states, as you might expect, focus on the fun-size bars, with the occasional “cool” house. But in Oregon, full-sized candy bars are the norm for trick or treaters, says CandyStore.com
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