Halloween Candy Inflation Haunts Shoppers for Second Year

For the second year in a row, U.S. shoppers are experiencing double-digit inflation in the candy aisle, with candy and gum prices up an average of 13% this month compared to last October. This is on top of a 14% increase in candy and gum prices in October 2022. The price surge is mainly due to weather-related factors, such as limited cocoa production caused by heavy rains in West Africa and a drought in Ivory Coast, a major cocoa producer. Global sugar prices are also at 12-year highs due to factors like India's ban on sugar exports and reduced output in Thailand. These cost increases, along with labor, packaging, and ingredient expenses, are driving up candy prices. As a result, some consumers are opting for value or store brands, while others are buying less candy altogether.