MEMPHIS, Tenn. — You may pay a lot more for Halloween candy this year.
Analyst are predicting prices will increase by 4.2 percent compared to last year.
“I don’t understand why would they make candy go up so high. This is supposed to be a little fun holiday and I’m just not understanding, what is the point behind it though,” said Rosetta Smith.
The Director of Economics at IHS Global Insight said rising prices for global raw sugar pushed up prices for candy.
Smith, who’s planning on buying dozens of bags for children at her church, said the increase in the sweet stuff will impact her spending,
“We talking about a lot of kids, 50 to 100 children. So yeah, that’s probably going to play a part in how many bags I purchase,” she said.
Analyst said if you want to save money, procrastinating isn’t always a bad idea.
Some stores offer big discounts days before Halloween.
Buying generic candy instead of pricier brands isn’t a bad idea either.
Michael Moffatt said the increase doesn’t bother him.
“I haven’t thought about the candy going up and that wouldn’t make a difference to us. We still buy candy. Our problem is no matter how much we buy, we run out quick,” he said.
Halloween spending is expected to rise to rise 0.7 percent, which is about $2.2 billion.
Believe it or not, that’s still the lowest it’s been since 2009.
