Rising Chocolate Prices May Scare Americans This Halloween

Although candy manufacturers are grappling with rising cocoa prices, Americans are expected to shell out $3.5 billion on sweet treats for the haunted holiday.

“Yet, while chocolate remains the highest-priced treat with some bags of Halloween candy retailing for as much as almost $20 at stores like Target, non-chocolate offerings are also costing more as well,” the outlet said.

According to Good Morning America, there has been a shortage of cocoa beans resulting in higher prices. The outlet noted that 70 percent of cocoa beans are produced in West Africa, but changing weather patterns have made it difficult for growth:

In October 2022, inflation meant Halloween candy and chewing gum prices were 13.1 percent higher than the year before, making it the largest increase on record, Breitbart News reported.

The outlet continued:

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, the Ukraine War, and high inflation, U.S. farmers have opted to plant fewer sugar beets to save on costs, Forbes noted.