The scariest thing about Halloween might well be the dent it leaves in your wallet. Whether you’re aiming to have the best-decorated house on the block, or just trying to put together costumes for the family, you’ve probably spent your fair share at Spirit Halloween.
What can we say? Spooky season is expensive. But if you’ve noticed that Halloween candy in particular feels a little pricey this year, you’re not wrong.
The price for chocolate candy has grown 7.5 percent from last year, according to market research group Circana.
A global cocoa shortage has been affecting costs for some time now. Early this year, the BBC reported that the price of chocolate had reached an all-time high due to rising costs of ingredients, and accompanied by the El Niño weather phenomenon, which created a dry season for the crop in Ghana and Ivory Coast — the world’s two largest suppliers.
Isn’t there enough evil in the world? Must chocolate suffer too?
Candy companies are also raising prices on non-chocolate candies by double digits, Dan Sadler, principal of client insights at Circana, told Reuters.
UGH.
Despite this across-the-board price increase, gummies and hard candies are now hitting the shelves hard to make up for the chocolate shortage.
A spokesperson for Oreo maker Mondelez — which does not have a major U.S. chocolate brand — told Rueters that this year, Halloween shoppers are interested in limited editions and special flavors of non-chocolate treats, such as its Sour Patch Kids’ apple harvest and cherry varieties.
Another way candy companies are dealing with the chocolate shortage is by changing sizes and proportions of their chocolate products: As Yahoo Finance senior reporter Brooke DiPalma put it, “You might expect more filling in your Snickers.”
At the very least, the high prices don’t come as a surprise. According to Yahoo Finance, people are budgeting for the price hike, or are at least expecting its impact, with 33 percent of Halloween shoppers expect to spend over $51 on candy this year — a big jump from only 16 percent last year.
If you don’t want to break the bank on candy, DiPalma offered some advice. While 7 out of 10 consumers are waiting to buy candy in hopes of scoring the best deals, she says that promotional season is coming earlier and earlier, so keep your eyes peeled for sales throughout the month!
And look, we ALL know Reece’s pumpkins are the best Halloween candy. Obviously. But if the price tag dissuades you, or you luck out of finding them, remember it is totally okay to give out lesser candy. Skittles are acceptable. We will forgive you.
