Americans are expected to spend more than $10.6 billion this Halloween. CNN's nmeyersohn reports on record levels of Halloween spending despite inflation.
Candy prices are estimated to be 14% higher than last year, according to a recent report from S&P Global Market Intelligence. That’s the highest increase since the firm started tracking Halloween candy prices in 1999. “A 14% increase in candy prices is the largest on record by a significant margin,” Akshat Goel, senior economist at S&P Global Market Intelligence, told CNN. This year’s projected bump is twice the 7% jump recorded in 2008, during the financial crisis.
” Even so, people seem to be willing to shell out for candy this spooky season. Household spending on Halloween candy in the US is expected to hit $3.2 billion this year, according to S&P Global, a 1% increase over last year. The National Retail Federation, which partners with Prosper Insights & Analytics on an annual Halloween Consumer survey, found that 67% of respondents planned to hand out candy this year, up from 66% in 2021.