[New York Diary] Feeling U.S. Inflation Even in Halloween Candy

Stories from Everyday Life in New York

[Image source=Getty Images Yonhap News]

"Why is candy so expensive?" I literally froze when I went to buy chocolates and candies for neighborhood kids ahead of Halloween weekend in New York, USA. The building I currently live in is recruiting households to participate in "trick or treat" from 5 PM to 8 PM on Halloween day, and this year my Halloween plan was to greet children dressed as witches and Spiderman. However, standing in the middle of the supermarket, I was puzzled whether these price tags on just (?) candy and chocolate were correct and how many bags I should buy. A woman picking candy next to me also shook her head, saying "It's gotten more expensive."

Voices saying that candy and chocolate prices are not like previous years are pouring in everywhere ahead of Halloween. CBS News in the US pointed out this atmosphere, reporting, "The scariest thing this fall is the money you have to pay for Halloween candy," blaming "inflation." According to the US Bureau of Labor Statistics, as of September, the price of candy and gum rose 7.5% compared to the previous year. Compared to 2021, it jumped by a whopping 20%. Even considering the persistent overall inflation in the US, this is a rise far exceeding the average.

In a recent report released by the National Retail Federation (NRF), it was also forecasted that Americans' Halloween-related spending this year will reach a record high of $12.2 billion. Among this, the amount spent on candy and chocolate is estimated to have increased by about 16% from the previous year to $3.6 billion. The average expected cost per household for candy purchases rose from $30 last year to $35 this year. A family of expatriates living in northern New Jersey said, "We only bought just enough for the school event, but it cost more than $300," adding, "If it's for the children's joy, we can definitely spend (this money), but I feel it has become especially more expensive this year."

The sharp price increase is attributed more to raw material costs than Halloween marketing. It is diagnosed that the price fluctuations of major raw materials such as sugar and alternative sugars, and cocoa reflect the impact of poor harvests due to adverse weather. In the US, a significant portion of sugar imports depends on Mexico, where this year's harvest decreased by more than 15%. Raw sugar prices jumped to about 27 cents per pound, the highest since 2011. The impact of adverse weather is even more severe for cocoa sourced from West Africa. Cocoa recently traded at over $3,800 per metric ton, the highest level since the 1970s. Professor Christopher Tang of UCLA told local media, "Due to inflation, labor costs have risen significantly. From packaging to sugar and cocoa, all factors that ultimately determine the price of candy and chocolate have increased."

Additionally, the high inflation has led food companies including Hershey to consecutively raise prices over the past year. Hershey announced an 11% price increase for candies sold in the North American region last quarter. Spending $11 instead of $10 for one bag of candy may not seem like a big change. However, most households preparing for trick or treat buy dozens of bags, so they inevitably feel the inflation directly. Ms. Summer, who is about to buy candy, said, "I know prices have gone up a lot," but added, "Still, since the kids like it, I will buy plenty."

While consumers feel inflation even in a single bag of candy, Halloween spending in the US is expected to set another new record. And I still haven't bought any candy.

This content was produced with the assistance of AI translation services.