The Bureau of Labor Statistics reports that the average price of chewing gum and candy has increased by approximately 8% compared with last year. Chocolate prices have risen even more sharply, increasing by 15.5%, according to data from a financial consulting firm.
Extreme weather conditions affecting cocoa production in West Africa are among the factors contributing to higher chocolate prices.
The National Retail Federation estimates that the average consumer will spend approximately $115 on candy this Halloween. Consumers may find savings by comparing prices across retailers, while bulk purchases may provide better value.