Halloween candy prices up a scary 13% this year

The spookiest day of the year is almost here, and with it comes the need for Halloween candy to give to trick-or-treaters, but the price of candy is slightly scarier this year.

The increase is due, in part, to the rising cost of ingredients needed to make the candy. Inflation has also affected the cost of labor, as workers need a higher wage to get by. This year, the cost of Halloween candy is up by 13%, according to the U.S. Bureau of Labor Statistics.

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“All the ingredients, from wrapping paper to the basic ingredients like sugar, and also the cocoa beans that we have imported from Africa,” said UCLA professor Christopher Tang, an expert on the supply chain. “So, as a result, every single ingredient, element, and the wages are going up.”

The uptick in candy prices is reflected in expected spending by consumers planning to celebrate the holiday, as Halloween expenses are expected to reach $12.2 billion this year, up from last year’s total of $10.6 billion. Of the anticipated $12.2 billion, $3.6 billion is expected to be spent on candy, up from $3.1 billion in 2022, according to the National Retail Federation.

The average household is expected to spend about $35 on candy in 2023. Last year, the average household spent $30.

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It is estimated that a total of $4.1 billion will be spent on costumes this year, with a majority of this spent on costumes for adults at $2 billion. About $1.4 billion will be spent on costumes for children, while $700 million will be spent on costumes for pets.

The NRF’s data were compiled from 8,084 consumers surveyed from Sept. 1-6, with a margin of error of plus or minus 1.1 percentage points.