Share this @internewscast.com

Spooked by the high price of Halloween candy? There’s not much relief in sight.

For the second year in a row, U.S. shoppers are seeing double-digit inflation in the candy aisle. Candy and gum prices are up an average of 13% this month compared to last October, more than double the 6% increase in all grocery prices, according to Datasembly, a retail price tracker. That’s on top of a 14% increase in candy and gum prices in October 2022.

“The price of candy has gotten to be outrageous,” said Jessica Weathers, a small business owner in Shiloh, Illinois. “It doesn’t make sense to me to spend $100 on candy.”

Weathers said she usually buys plenty of candy for trick-or-treaters and events at school and church. But this year, she only bought two bags and plans to turn off her porch light on Halloween when she runs out.

Other consumers are changing what they buy. Numerator, a market research firm, said its surveys show about one-third of U.S. consumers plan to trade down to value or store brands when buying candy for trick-or-treaters this year.

Weather is the main culprit for the higher prices. Cocoa prices are trading at 44-year highs after heavy rains in West Africa caused limited production in the season that began last fall. Now, El Nino conditions are making the region drier and are likely to linger well into the spring.

“There may be no price relief in sight, at least through the first half of 2024,” said Dan Sadler, principal of client insights for Circana, a market research firm.

Kelly Goughary, a senior research analyst with Gro Intelligence, an agricultural analytics firm, said Ivory Coast — which produces around 40% of the world’s cocoa — is already showing the signs of one of its worst droughts since 2003.

Meanwhile, global sugar prices are at 12-year highs, Goughary said. India, the world’s second-largest sugar producer after Brazil, recently banned sugar exports for the first time in seven years after monsoon rains hurt the upcoming harvest. Thailand’s output is also down.

Those costs, combined with increases for labor, packaging, and ingredients like peanuts, are pushing up prices for all kinds of candy.

Discount grocer Aldi is advertising a 250-piece variety pack of Mars Inc. chocolate bars — including Milky Way, Twix and Snickers — for $24.98. Two years ago, the same package was advertised at $19.54.

Hershey Co. — which has raised its prices by 7% or more in each of the last seven quarters —acknowledged this week that higher prices are taking a toll on demand. Hershey’s North American confectionary sales volumes fell 1% in the July-September period.

“We know that value and affordability continue to be top-of-the-line for consumers as budgets are stretched,” Hershey’s President and CEO Michele Buck said Thursday on a conference call with investors.

Buck said Hershey is trying to meet consumers’ needs with offerings in value stores and pack sizes at various price points.

Share this @internewscast.com
You May Also Like
Pope Leo baptizes 20 infants in a tradition marking the end of the Christmas season

Pope Leo’s Heartwarming Baptism Ceremony: 20 Infants Welcomed in a Cherished Christmas Tradition

Pope Leo XIV presided over the baptism of 20 infants under the…
MLB news: Chicago Cubs, free agent 3rd baseman Alex Bregman in agreement on 5-year, $175 million contract, ESPN sources say

Cubs Secure Star Power: Alex Bregman Joins Chicago on a 5-Year, $175 Million Deal

CHICAGO — Third baseman Alex Bregman has inked a five-year, $175 million…
Crowd-for-Hire Boss Says He Wants Nothing to Do With 'Any Form of Illegal Protest' in Minneapolis

Minneapolis Crowdsourcing Leader Distances from Illegal Protests Amid Controversy

For quite some time now, it’s been evident that many so-called “protestors”…
Minnesotans speak out about fatal ICE shooting of Renee Good

Minnesota Community Reacts to Tragic ICE-Involved Shooting of Renee Good

On Wednesday, amidst a surge in immigration enforcement actions in Minnesota led…
JSO: Elderly man dead after hit-and-run on Vernon Road

Tragic Hit-and-Run on Vernon Road Claims Life of Elderly Man: JSO Seeks Public’s Help

A man was discovered on the road after being hit by an…
Mariano's South Loop to host annual Lunar New Year celebration

Experience the Vibrant Traditions: Mariano’s South Loop Hosts Unforgettable Lunar New Year Celebration

CHICAGO — Embrace the Year of the Horse with an exciting celebration…
Greenland leaders push back on Trump's calls for US control of the island: 'We don’t want to be Americans'

Greenland Stands Firm: Rejecting U.S. Control and Embracing Sovereignty Over Americanization

Greenland’s government has firmly rejected President Donald Trump’s proposal for the United…
RS Weekly Briefing: Minneapolis Madness, Kamala’s Sheepheaded Spin, and Vance’s Savage 2028 Prediction

Unraveling Political Chaos: Minneapolis Unrest, Kamala’s Controversial Comments, and Vance’s Bold 2028 Forecast

Welcome to the RedState Weekly Briefing, your one-stop roundup of last week’s…
Journalist’s dangerous obsession with a forgotten serial killer unraveled her reality

Unveiling Obsession: How a Forgotten Serial Killer Shattered a Journalist’s World

Laura Greenberg, a journalist on a mission to comprehend the darker sides…
Minneapolis ICE shooting officer followed training as potentially 'deadly threat' drove at him: former agent

Minneapolis ICE Officer’s Response to ‘Deadly Threat’ Under Scrutiny: A Deep Dive into Training Protocols

In Minneapolis, a tense and tragic incident unfolded involving an immigration officer…
DC pipe bomb suspect makes first court appearance; family yells support

DC Pipe Bomb Suspect Denies Charges of Planting Devices at DNC and RNC Headquarters

In a court appearance on Friday, the individual charged with placing pipe…
Aaron Rodgers returns to NFL playoffs vs. Texans after fulfilling the Steelers’ ‘vision’

Aaron Rodgers Makes NFL Playoff Comeback Against Texans, Realizing Steelers’ Strategic Vision

The Pittsburgh Steelers had a plan in mind. Executing it required significant…