ABC7 Chicago is now streaming 24\/7. Click here to watch<\/a><\/p>\nAmanda Lai is a retail and food industry expert at the retail strategy group McMillan Doolittle in Chicago.<\/p>\n
“In line with elevated grocery prices, we are seeing elevated costs when it comes to Halloween candy, too,” Lai said.<\/p>\n
The Consumer Price Index shows prices for candy and chewing gum in U.S. cities are now 45% higher than 10 years ago and 8% higher than just last year.<\/p>\n
“When you get to candy manufacturers, costs are higher there form a labor standpoint, plus the cost of cocoa,” Lai said.<\/p>\n
The International Cocoa Organization says while the import price of cocoa has fallen since its peak at the end of last year, chocolate is still two-and-a-half times higher than it was in October 2020 and 76% higher than in October 2015.<\/p>\n
“Part of the issue is shortage, globally. West African countries like the Ivory Coast, like Ghana, they produce half of the world’s cocoa, and they were impacted by inclement weather and plant diseases that decimated the cocoa supply,” Lai said.<\/p>\n
Experts also say overall inflation and the Trump administration’s tariffs are helping to fuel the increased prices.<\/p>\n
So, how can you save? Lai says consider non-chocolate items, which should be less expensive. You can also buy in bulk with a neighbor and consider alternatives.<\/p>\n
“You can look at non-candy options like temporary tattoos, stickers, glow sticks or maybe give one piece of candy per kid,” Lai said.<\/p>\n
So, this year, your Halloween haul might be a little smaller, or your receipt, a little scarier.<\/p>\n
Overall, Halloween spending is still expected to hit a record high of more than $13 billion this year, but that’s also factoring in the more expensive prices.<\/p>\n
Chicago taxes also increase the cost of your candy. That’s because it is taxed like regular merchandise, not groceries, which have a lower tax rate.<\/p>\n
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