Bidenflation drives up Halloween candy prices
Halloween this year will be scary for the wallets of many Americans, as record inflation under the Biden administration has driven the price of candy to record highs.
Candy prices are up more than 13% from a year ago, the Labor Department reported, the largest annual increase on record. The price hike is an unfortunate moment for the Biden administration less than two weeks before November’s midterm elections, as inflation and the economy remain the top issues for voters.
Overall, Americans’ spending on Halloween is expected to be on par with last year’s record price, the the wall street journal reported:
Halloween shoppers should expect more tricks and fewer treats this year. The average household is expected to spend around $100 on candies, costumes, decorations and related items for this year’s holiday, according to data of the National Retail Federation, a retail trade group. That amount is the second highest the group has ever predicted, only surpassing last year’s record high of $103. In comparison, people spent around $74 on Halloween in 2015.
US candy makers said inflation rates had driven up production costs and the price of ingredients like sugar, flour and milk. The cost of each of these items exceeded the overall rate of consumer inflation in the United States, which rose 8.2% in September from a year ago and approached its highest level in four decades, according to the Labor Department.
President Joe Biden has deflected blame for record US inflation this year. But Democratic House Majority Whip Jim Clyburn (SC) last week admitted “all of us [congressional Democrats] knew that “the president’s $1.9 trillion US bailout package they passed last year would lead to inflation.