{"id":6011,"date":"2023-10-27T14:54:25","date_gmt":"2023-10-27T14:54:25","guid":{"rendered":"https:\/\/infundpros.com\/finance\/candy-prices-are-a-whopper-but-this-hottie-is-among-the-cheapest-brands\/"},"modified":"2023-10-27T14:54:26","modified_gmt":"2023-10-27T14:54:26","slug":"candy-prices-are-a-whopper-but-this-hottie-is-among-the-cheapest-brands","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=6011","title":{"rendered":"Candy prices are a whopper, but this hottie is among the cheapest brands"},"content":{"rendered":"
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This <\/em>article<\/em> is reprinted by permission from <\/em>NerdWallet<\/em>.\u00a0<\/em><\/p>\n

Forget the ghouls and ghosts \u2014 inflation is spooky enough. And it\u2019s coming for your Halloween candies.<\/p>\n

Candy and gum prices rose 7.5% between September 2022 and September 2023, according to the Bureau of Labor Statistics. For context, the broader category of\u00a0grocery prices increased 3.7%\u00a0over that time frame.<\/p>\n

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Why is candy so expensive?<\/strong><\/h2>\n

Beyond overall\u00a0inflation, which rose 3.7% year over year since September 2023, there are a few more reasons why candy is so expensive right now. The cost of raw sugar reached an 11-year high in April, per CNBC, due to the effects of extreme weather on the crop, as well as rising demand.<\/p>\n

And a U.S. agricultural policy that requires 85% of sugar purchases to come from domestic processors is further tightening an already strained supply, according to The Wall Street Journal.<\/p>\n

Consumers are taking notice. In a survey of 1,000 U.S. households that celebrate Halloween, 41% of respondents said that inflation has impacted how much they plan to spend on Halloween candy this year, according to Advantage Solutions, an e-commerce analytics firm.<\/p>\n

Plus:<\/strong> 9 ways to manage the stress that the holidays put on you and your finances<\/p>\n

Go for this cheap Halloween candy in 2023<\/strong><\/h2>\n
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Thankfully, there are some candies whose prices actually fell year over year, according to a new report from Pattern, an e-commerce analytics firm. So you can still indulge in some sweet treats without exceeding your budget.<\/p>\n

Pattern tracked the price changes of more than 30 types of candy on Amazon every day for one year. First, Pattern data scientists calculated a baseline price for specific candies \u2014 such as Twix, Milky Way or Skittles \u2014 by taking the average of the 10 most popular versions of those candies.<\/p>\n

For example, Milky Way\u2019s 10 most popular products may include a two-pack of candy bars, a 36-pack of candy bars and a bag of Milky Way \u201cFun Size\u201d minis. Those prices, as well as the prices of the seven other most popular products, would then be averaged. That average would represent the Milky Way baseline price.<\/p>\n

Then, Pattern compared that initial baseline cost from October 2022 with each candy\u2019s baseline price one year later.<\/p>\n

By measuring how each candy\u2019s baseline price changes over time, a picture emerges of how each candy\u2019s price rose or fell over a given time period \u2014 regardless of product.<\/p>\n

In the 12 months leading up to Oct. 9, 2023, the analysis found that prices fell on Amazon
\n AMZN,
\n +7.95%<\/bg-quote>
\n for these candies:<\/p>\n

    \n
  • \n Hot Tamales (-44.90%).<\/p>\n<\/li>\n
  • \n Mounds (-13.23%).<\/p>\n<\/li>\n
  • \n Heath (-10.24%).<\/p>\n<\/li>\n
  • \n Rolos (-9.83%).<\/p>\n<\/li>\n
  • \n Milk Duds (-7.58%).<\/p>\n<\/li>\n
  • \n Whoppers (-6.9%).<\/p>\n<\/li>\n
  • \n Reeses (-5.13%).<\/p>\n<\/li>\n
  • \n Milky Way (-4.28%).<\/p>\n<\/li>\n
  • \n Nerds (-2.96%).<\/p>\n<\/li>\n
  • \n Kit Kat (-1.63%).<\/p>\n<\/li>\n<\/ul>\n

    Those percentages translate to significant\u00a0real-world savings. Last year, Hot Tamales\u2019 baseline cost on Amazon was $45.69. Today, that figure is 44.9% less, at $25.32, per Pattern. Even Milky Way\u2019s much smaller percentage change of -4.28% means the candy\u2019s average price dropped from $21.70 in 2022 to $19.01 in 2023.<\/p>\n

    To avoid inflation\u2019s hardest-hit treats, stay away from these candies, whose prices rose the most dramatically over that time period: Airheads (+26.34%), Baby Ruth (+13.51%), candy corn (+13.24%), PayDay (+12.0%) and Tootsie Rolls (+11.36%). Airheads\u2019 average cost was $10.15 in 2022; today, that figure is $15.32.<\/p>\n

    Also read:<\/strong> How the travel industry is tapping into the mocktail market<\/p>\n

    How to save money on Halloween<\/strong><\/h2>\n

    With expensive winter holidays like Christmas and Hanukkah just around the corner, here\u2019s how to\u00a0spend less\u00a0on Halloween, beyond avoiding the priciest treats.<\/p>\n

    Avoid buying your favorite candy.<\/strong>\u00a0Seems counterintuitive, right? But, as Fortera Credit Union notes, you\u2019re more likely to munch on your favorite treats before Halloween, leaving you in a pinch on the big night. Stock up on sweets you won\u2019t be tempted to eat.<\/p>\n

    Make your own costume.<\/strong>\u00a0You can also ask friends if they want to trade costumes, recommends Farmers Trust & Savings Bank. If you\u2019re responsible for kids\u2019 costumes, reach out to other families in your social circle and see if any parents would be interested in a costume swap.<\/p>\n

    Trade home and yard decor<\/strong>\u00a0with friends\u00a0and family.<\/strong>\u00a0For decorations, buy art supplies from a dollar store, per Advisors Management Group, an investment firm in Wisconsin.<\/p>\n

    Read next:<\/strong> American consumers are still on a spending spree \u2014 but that doesn\u2019t mean they\u2019re financially healthy<\/p>\n

    More From NerdWallet<\/strong><\/p>\n

    Cara Smith writes for NerdWallet. Email: cara.smith@nerdwallet.com. Twitter: @https:\/\/twitter.com\/caramichelles.<\/em><\/p>\n<\/p><\/div>\n<\/div>\n