Halloween Candy Prices Spike, but Deals Remain

SAN ANGELO, TX - As Halloween approaches, candy prices are climbing to record highs, driven by a global cocoa shortage, according to reports. 

With just over three weeks until the holiday, consumers can expect to pay more for less candy this year.

A report from Wells Fargo attributes the price increase to a 14% cut in cocoa production, largely due to poor weather conditions in West Africa, which produces about 70% of the world’s cocoa. The supply challenges have driven up costs for chocolate manufacturers, who are passing those expenses on to consumers.

Despite the rise in candy prices, some retailers are offering deals. Target is selling two 70-piece Hershey’s candy bags for $15 with a “buy one, get one 50% off” promotion. Walmart is also offering 125-piece bags of Reese’s and KitKats for $15 during its holiday sales event. Online shoppers can find similar savings on Amazon, where a 5-pound bag of assorted candies costs $15.

Americans are projected to spend approximately $3.5 billion on candy this Halloween, but these rising costs mean shoppers will be shelling out more for fewer treats.