The zombies in the White House are back. Candy prices have risen by a shocking amount this Halloween compared to last year.
Joe Biden is one of the scariest Halloween monsters, even if he’s sucking money (hopefully) instead of blood. Brittany Hughes of MRCTV reported on October 24 about how the Ghastly Ghoul at 1600 Pennsylvania Avenue drains your wallet this holiday.
You’ll spend more this year if you plan to fill up a plastic cauldron full of fun-sized candy to give to the cute kids. Datasembly’s latest Grocery Price Index reveals that the average national price of candy is up 13% compared to last year. The overall grocery price is up 6.2%.
According to the National Retail Federation, families in the U.S. are expected to spend an average of $31.93 per household on candy this year. This is a significant increase over the $25.91 that each family spent last season. The NRF estimates that Americans will spend more than $12 billion on Halloween candy by 2023.
Even when the inflation rate slowed down, it was still a constant rise. This made it hard for many Americans, especially those on a tight budget, to pay for their essential expenses and even to spend extra money for holiday festivities.
Tang told ABC News that “labor costs have increased a great deal due to inflation.” Workers need a higher wage to survive.
He went on to say, “All of the ingredients, from the wrapping paper to the basic components like sugar, as well as the cocoa beans we imported from Africa, are going up.” El Nino has also affected the cacao industry.
Candy isn’t your only holiday expense. CPA Practice Advisor forecasted at the end of September that an unprecedented number of Americans (73%) will participate in Halloween festivities this year. The average spending per person is also a record-breaking $108.24. CPA Practice Advisor said that the biggest increase in spending was on costumes. They are now more popular than ever. Costumes are more popular than ever, but inflation will also increase the amount people spend.
Sixty-nine percent of those who celebrate Halloween plan to purchase costumes. This is up from 67% the previous year and is the highest level in the history of the survey. The total spending on Halloween costumes will reach a new record of $4.1 billion by 2022, compared to $3.6 billion last year.
The total spending on decorations is expected to be $3.9 billion. These items have been popularized by the pandemic, and consumers continue to buy them.
Bidenflation makes everything more expensive, even holiday fun. Joe the Money-Sucker is a man who seems to be insatiable when it comes to draining Americans of their money.