Candy and gum prices in the U.S. have increased by an average of 13% this month compared to last October, more than double the increase in all grocery prices. The rising prices are causing consumers to change their buying habits and opt for value or store brands. The main reason for the price increase is the weather, with cocoa prices trading at 44-year highs due to limited production caused by heavy rains and ongoing El Nino conditions.
For the second year in a row, U.S. shoppers are seeing double-digit inflation in the candy aisle. Candy and gum prices are up an average of 13% this month compared to last October, more than double the 6% increase in all grocery prices, according to Datasembly, a retail price tracker. That’s on top of a 14% increase in candy and gum prices in October 2022.
Other consumers are changing what they buy. Numerator, a market research firm, said its surveys show about one-third of U.S. consumers plan to trade down to value or store brands when buying candy for trick-or-treaters this year. Kelly Goughary, a senior research analyst with Gro Intelligence, an agricultural analytics firm, said Ivory Coast — which produces around 40% of the world’s cocoa — isfor the first time in seven years after monsoon rains hurt the upcoming harvest. Thailand’s output is also down.Those costs, combined with increases for labor, packaging, and ingredients like peanuts, are pushing up prices for all kinds of candy.
“We know that value and affordability continue to be top-of-the-line for consumers as budgets are stretched,” Hershey’s President and CEO Michele Buck said Thursday on a conference call with investors. Pastitsio is creamier than a baked ziti and meatier than lasagna. I think the classic Greek dish should be part of everyone's pasta repertoire.As a culinary judge, some of my favorite time-saving dinner shortcuts include using spice blends, freezing portioned foods, and eating "girl dinners."As rumors gain traction on TikTok, we dissect the possible perils associated with eating starchy foods cooked and later eaten as leftovers.
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