Quite possibly the scariest thing about Halloween is the dent it leaves on your wallet. Whether your goal is to have the most decorated house on the block or you just want costumes for your family, you’ve probably already had a great time having a great time at Spirit Halloween.
What can we say? Ghost Season is expensive. But if you’ve noticed that Halloween candy is extra expensive this year, you’re not wrong.
According to market researcher Circana, the price of chocolate candies has increased by 7.5% compared with last year.
A global cocoa shortage has been affecting costs for some time. Earlier this year, the BBC reported that chocolate prices hit record highs as rising raw material costs coupled with the El Niño weather phenomenon caused a dry season for chocolate in Ghana and Côte d’Ivoire.
Isn’t there enough evil in the world? Does chocolate have to suffer too?
Dan Sadler, head of customer insights at Circana, told Reuters that candy companies have also raised prices on non-chocolate candies by double digits.
ah.
Despite rising prices across the board, gummies and hard candies are now struggling to make up for the chocolate shortage.
A spokesman for Oreo maker Mondelez, which does not have a major chocolate brand in the U.S., told Rueters that Halloween shoppers are interested in limited-edition and special flavors of non-chocolate treats this year, such as Sour Patch Kids’ Apple Harvest and cherry.
Another way candy companies are responding to the chocolate shortage is by changing the size and proportions of their chocolate products: As Yahoo Finance senior reporter Brooke DePalma puts it, “You might expect more filling in a Snickers bar.”
At least the high price isn’t surprising. People are budgeting for the price increase, or at least anticipating its impact, with 33% of Halloween shoppers expecting to spend more than $51 on candy this year, compared to just 16% last year, according to Yahoo Finance.
If you don’t want to spend too much money on candy, DiPalma has some suggestions. While seven out of 10 consumers are waiting to buy candy in hopes of getting the best deals, she says sale season is just around the corner, so keep an eye on sales all month long!
Look, we all know Reese’s pumpkins are the best Halloween candy. Obviously. But if the price tag puts you off, or you’re lucky enough not to find them, remember that it’s totally okay to give away less candy. Eating, drinking and having fun is acceptable. We will forgive you.
