For the second year in a row, U.S. shoppers are seeing double-digit inflation on candy.
According to Datasembly, Candy prices are up an average of 13% this month compared to last October.
“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.”
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.
From Newsmax:
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.
