By MEANNA SMITH
Every year on Halloween day, children go door to door collecting various types of candy which typically last a few weeks. This year many people wonder if Halloween candy will last children more than a few days.
Inflation has been on a heavy increase since early last year and is now carrying noticeable effects in citizens everyday lives. Inflation has been on an 8.2 percent increase since September of last year, vastly exceeding the Federal Reserve’s target of 2 percent.
According to the Bureau of Labor Statistics, Halloween candy prices are now 13 percent higher than last year. This marks the highest yearly jump the Consumer Price Index (CPI) has ever recorded. To understand the magnitude of this jump, it is necessary to note that in the past it has taken nine years for candy prices to jump 13 percent.
The inflation surrounding Halloween candy is largely due to the increase of prices on sugar and flour. The price of flour alone has gone up by 24 percent in just the last year.
Many US citizens are wondering how these large percent increases directly affect the prices of candy in a way that is relevant to them. According to the National Retail Federation, Americans are predicted to collectively spend about 3.1 billion on Halloween candy during this year’s Halloween season. At a 13% increase, a fifteen dollar bag of the most popular assorted Halloween candy adds about two dollars onto the price.
Each classic Halloween candy has been affected in price differently by inflation. Here are the updated prices of some frequently purchased Halloween candy packs according to the US addition of Bloomberg:
Reses’s Peanut Butter Cups: $8.01
The prices of these candies are extremely expensive compared to the price of the same candy last year. The candy with the highest price jump is Recese’s Peanut Butter Cups jumping from $5.92 to this year’s price of $8.01.
Feature image: MIA CALIVA/Ethic News image