Here's one reason Halloween will be a little less scary this year: Americans are expected to spend almost 3 percent more on candy compared to 2013, but candy prices are predicted to stay pretty stable, continuing a recent trend.
The cost of other food items may have climbed more substantially, but candy prices this month are expected to be just 0.2 percent higher than they were last October, according to IHS economist Chris Christopher.
Americans spent between $24 billion and $29 billion satisfying their candy and chewing gum cravings in 2013, and the National Retail Federation recently forecast that overall Halloween spending would climb from $6.9 billion last year to $7.4 billion this year, including some $2.2 billion on candy.
“Between 2005 and 2011, Halloween candy prices were creeping up at an accelerated pace,” Christopher wrote Monday. “However, Halloween candy price inflation has slowed tremendously over the past couple of years, thanks to depressed raw sugar and refined sugar beet prices.”
Despite that trend, Christopher stills offers the same advice on maximizing your candy utility that you’re likely to hear from any economist worth his salt sugar: “For those households that are looking for a great deal on candy, the usual trick of the trade is to shop on November 1 and take advantage of the deep candy discounts.”
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