Poor sugar and cocoa harvests in Mexico, India, and the Ivory Coast, primarily due to El Nino-induced weather disturbances like low rainfall, have caused a spike in candy prices for the second consecutive year. Surging prices are leading some consumers to trade down to value or store-brand candy this Halloween, according to AP News.
Data from retail price tracking website Datasembly reveals consumers have been slapped with the second year of double-digit inflation in the candy aisle. Prices for candy jumped 13% this month compared to prices last October. That’s up from a 14% increase in candy in October 2022.
“The price of candy has gotten to be outrageous,” Jessica Weathers, a small business owner in Shiloh, Illinois, told AP. She usually buys plenty of candy for the trick-or-treaters, but this year, she only bought two bags, indicating, “It doesn’t make sense to me to spend $100 on candy.”