Sweet Inflation
In the days leading up to Halloween, it is no surprise that this holiday has also been impacted by the 2022 horror protagonist "the not-so-sweet inflation".
Recently the US Bureau of Labor Statistics reported that the cost of candy and gum increased by 13.1 % in September over last year, the all-time high, according to the latest US inflation data.
The main culprit is ...
- U.S. refined sugar prices have soared this year after drought affected beet sugar crops in northern states.
- Chocolate has also been affected by inflation in recent months, partly due to higher costs for chocolate manufacturers.
- The supply chain chaos caused by the pandemic and then the war in Ukraine has spilled over into cocoa markets.
Halloween is considered the most important holiday for the candy industry in the United States.
How large is this increase?
Corresponds to the sum of all the increases from 1997 to 2006, leaving just on par with this year's percentage.
