Don’t be spooked if those bags of Butterfingers, Milky Ways, or other Halloween favorites are a little pricier this year. According to the Bureau of Labor Statistics, the price of Halloween candy has risen by 7.5% compared to last year. In terms of what you spend, the National Retail Foundation estimates the average person will spend nearly $32 on Halloween candy this year, which is up by $2.50 compared to last year’s average.
But, why the scary price increase? Unfortunately, there are a variety of reasons causing prices for your treats to feel like tricks.
Why is the price of Halloween candy rising?
To make candy, you need sugarand it sure doesn’t help that the cost of sugar is at an 11-year all-time-high. CNBC reported that the price of raw sugar increased due to extreme weather on the sugar cane crops, particularly in India where a third of the country’s sugar comes from. Sugar production was trimmed by 3% this year, causing an increase in price for products made with sugar, like candy.
Plus, any companies following the U.S. agricultures policy of having 85% of their sugar come from domestic sources also have to deal with a strained supply within the nation.
Cost of labor can also be a key factor in price inflation. UCLA supply-chain expert Professor Christopher Tang also told ABC News that, “The labor cost has gone up a lot because of inflation. The workers need to have a higher income so that they can survive.”
And yet, despite the fact that 41% of U.S. households admit the change in cost will likely impact how much they spend on Halloween candy this year, candy spending is still expected to reach $3.6 billion this year, which us up from $3.1 billion last year.
How can you save money on Halloween candy?
If you’re looking for ways to save on Halloween candywhile still giving those goblins and ghouls with neon-orange pumpkins the treats they’re looking forhere are a few tips to help you save a little cash.
Save the candy for trick-or-treating: While it’s tempting to have bowls of candy out for guests at your Halloween party, save the store-bought candy for trick-or-treaters and get a little creative with homemade goodies at your party. You could serve these adorable Witches’ Brooms or Sugar Ghost Cupcakes, or, try any of these other homemade Halloween candy recipes.Use coupons: Is your local grocery store offering deals on candy? Check local listingsor any online discounts or couponsto see if you can snag a few bags at a cheaper price.Buy in bulk: While those assorted bags of candy don’t allow you to choose all of the candy in your bowl, they do help with giving trick-or-treaters some variety to choose from for a discounted price. Or, if you want to hand out only a specific kind of candylike those beloved Reese’s pumpkinsthen buying them in bulk will ultimately help you save on the price per pound.
The post If Your Halloween Candy Is More Expensive This Year, Here’s Why appeared first on Taste of Home.