Halloween candy sales are off to a slow start amid high chocolate prices and affordability concerns

Key Points:

• Halloween candy sales in the U.S. have declined by 6.7% through mid-October compared to last year, with an 11.7% drop noted in mid-September, as consumers face high living costs and rising chocolate prices.
• High gas prices and increased expenses for housing, clothing, and food are limiting consumers' ability to purchase Halloween candy, leading to reduced demand especially for large and extra-large candy bags.
• Candy prices have risen significantly, with chocolate and gum costs up 44% over five years, driven largely by record-high global cocoa prices due to poor West African weather, geopolitical disruptions, and the El Niño weather pattern.
• Despite some price decreases in non-chocolate candies, sales have not improved, suggesting consumers remain cautious and may be postponing purchases until closer to Halloween.
• The National Confectioners Association remains optimistic about the upcoming peak Halloween sales period, citing continued strong consumer enthusiasm despite current softness in candy sales.