Candy Prices

Following a year of heavy rains in West Africa, candy prices in the US have seen extreme inflation. 

Discount grocer Aldi is currently advertising a variety pack of Milky Way, Twix, and Snickers at $24.98. Only two years ago, the exact same package was over $5 cheaper, costing just $19.54. 

The Ivory Coast, which produces about almost half of the world’s cocoa, was hit by a series of heavy storms beginning last fall, leading to significantly decreased production. This, in turn, has directly caused cocoa prices to reach a 44-year high, and it does not seem as if they will revert back anytime soon. 

With the arrival of El Nino, West Africa is now showing signs of one of the worst droughts the region has seen since 2003, and cocoa production is estimated to continue dropping throughout 2024.

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With a 12.8% increase since October 2022, on top of a 19.9% increase from the year before, children might have noticed a slight change in trick-or-treating this year.

A small business owner from Illinois, Jessica Weathers, remarks, “The price of candy has gotten to be outrageous. It doesn’t make sense to me to spend $100 on candy.” She recalls that generally, she buys more than enough, but this year only bought two bags and is planning to simply turn off her porch light when it’s gone. 

Numerator, a market research firm, has found that over one third of consumers are planning to trade down to value or store brands, while others are simply planning to just buy less candy. 

“[High inflation] makes for more of a trick than a treat for consumers,” remarks the Datasembly report.