This Halloween, the biggest scare could come at the checkout counter, where candy prices shock shoppers.
Packages of popular candy, from sour candies to chocolate bars, have increased by more than 15 percent over the past year, according to a recent analysis. Tariffs and the war in Iran are among the factors cited for the rising costs of consumer goods.
As Texas families struggle with higher prices, candy sales are also taking a hit. Sales of non-essential items like candy fell 11.7% in mid-September, according to a study by market research firm NielsenIQ.
“I think what you’re seeing now is a consumer spending a lot of extra money on fuel, housing, clothing and food,” said Chris Costagli, vice president and food thought leader at NielsenIQ.
As of Monday, average gas prices in Texas stood at $3.71, nearly 42% higher than last year’s average, according to recent AAA data.
“Some of the decisions they make about Halloween candy, it’s not necessarily because ‘I notice it’s more expensive than last year,’ but more like ‘I can’t afford it this year because I paid so much more for so many other things. I just don’t have the financial means to buy it this year,'” Costagli said.
An analysis by Groundwork Collaborative and The Century Foundation, using NielsenIQ data, found large price increases on several popular candy packs over the last year:
Price increases vary by product, but higher costs appear to be changing how shoppers fill their candy bowls.
Smaller candy bags were the only size category to see modest sales growth through mid-October, Costagli said. Sales of large and extra-large bags saw the biggest declines.
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