Scary high inflation is causing beloved Halloween candy staples to be more expensive than ever.
This year, candy and chewing gum prices are 13.1 percent higher than last year, the largest increase ever recorded. In turn, handing out Halloween candy products like Twix, Skittles, Reese’s, Starburst, and Kit Kat might be a bit trickier this year.
According to Bloomberg, using data from Datasembly, the candy brands that have jumped the highest from September 1, 2021, to October 16, 2022, include:
[Candy] 2021 2022 Increase Twix $4.95 $7.60 53% Skittles $3.13 $4.43 41% Reese’s $5.92 $8.01 35% Starburst $3.04 $3.95 30% Kit Kat $4.92 $5.98 21%
(Datasembly via Bloomberg)
Other brands that did not outpace the candy inflation rate but outpaced overall inflation (8.2 percent) include Snickers, up by 12 percent; M&M’s, also up by 12 percent; and Sour Patch Kids, up by 10 percent.
Even when accounting for promotional deals given out by retailers, Skittles cost $3.37, up 29 percent; Starbursts cost $3.22, up 22 percent; M&M’s cost $3.88, up 18 percent; and Twix costs $4.76, up 17 percent.
Some other companies have also resorted to shrinkflation in an effort to save costs. The Washington Post reported that this year, a bag of dark chocolate Hershey Kisses is two ounces smaller than it was previously, Reese’s Peanut Butter Cups are a tenth of an ounce smaller, and Cadbury Chocolate bars are ten percent smaller.
As Breitbart News previously reported, the surge in candy prices can be attributed to high production costs and price increases for sugar (14.4 percent), milk (15.2 percent, and flour ingredients (24.2 percent).
The high production costs are a result of a current drought affecting sugar beet crops. Since sugar beets require fertilizer, which has been affected by supply chain issues, Ukraine War, and high inflation, U.S. farmers have opted to plant fewer sugar beets to save on costs, Forbes noted.
Americans are projected to spend a record $10.6 billion on Halloween this year, with an estimated $102.74 spent per household, according to the National Retail Federation. In 2015, households only spent $74.34 on Halloween costs on average.
You can follow Ethan Letkeman on Twitter at @EthanLetkeman.