If Halloween horror films don't have you screaming, this year's candy prices might do the trick.
Families preparing to hand out treats to trick-or-treaters will pay significantly more for candy this year, with chocolate options driving the biggest price increases.
At Fawn Candy, a local shop that has been selling and making candy since 1946, staff members have been working to keep prices as low as possible despite soaring cocoa costs.
Manager Tricia Rayburn refuses to use cheaper ingredients, so she is offering more non-chocolate options to help families on a budget.
"We do sell some of the other candy that is not chocolate," Rayburn said.
See some of the simple ways to lower your candy costs this year:
Supply chain expert Pawan Joshi said a shortage of cocoa from West Africa is the main driver of higher chocolate prices.
"The rainfall has been lower. There's also been a disease that's been going through the crop. And just to give you a context, West Africa produces about 60 to 70% of the world's cocoa supply," said Joshi, chief strategy officer at supply chain software company E2open.
Research from financial services firm Empower shows candy prices are 8% higher than last year and 20% higher than just three years ago. The study also found shoppers plan to spend a boo-worthy $58 on candy alone this year.
Ways to save money on candy
Smart shopping expert Trae Bodge recommends avoiding chocolate for the biggest savings.
"If you're really looking to save this year, I would not get chocolate. I would get those sweeter things. Maybe it's Jolly Ranchers or Skittles," Bodge said.
Bodge said bigger discounts come closer to Halloween, so families should hold off on purchasing if possible.
For those stocking up now, experts recommend:
- Do a price comparison online before you buy
- If you have lots of Halloween traffic, buy candy at a wholesale club
- If you don't have many kids in the neighborhood, stick with smaller bags so you don't overbuy
- Check weekly ads for candy sales at your favorite store, such as Walmart, Kroger or Publix
Joshi said supply constraints aren't going away any time soon, which means chocolate prices will stay high throughout the holiday season.
"The trend would be to go up, not necessarily go down," Joshi said.
Tricia Rayburn suggests giving smaller but higher-quality treats to manage costs.
"We have all kinds of gift ideas for every price range," Rayburn said.
And when we tried their homemade chocolate, it sure was good.
That way you don't waste your money.
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