Summary
Chocolate prices have increased, affecting how much American households plan to spend on Halloween candy. Despite overall Halloween spending expected to reach record levels, many people are adjusting their budgets to account for higher chocolate prices. Cocoa shortages and rising production costs contribute to the price hikes.
Key Facts
- Chocolate prices are leading 57% of Americans to reconsider their Halloween candy budgets.
- A survey found that 52% of people plan to cut back on Halloween spending due to higher costs.
- The average American household expects to spend $296 on Halloween, with $58 for candy.
- The cost of fun-size chocolate bars has increased by about $5 compared to last year.
- Cocoa prices have risen because of weather issues and diseases affecting supply in West Africa.
- Hershey’s has announced price increases for its chocolate due to high cocoa costs.
- Cocoa futures in New York recently dropped to an 11-month low as supplies improved.
