Halloween candy is costing more. Here's why, and ways to save

Spooked by prices for Halloween candy? Get used to that feeling.

Americans expect to spend about $3.5 billion on Halloween candy this year, according to the National Retail Federation .

Chocolate treats, in particular, are more costly with cocoa prices being at record highs, according to a report Wells Fargo released this month.

Consumers will likely see another price spike on chocolate candy this Halloween due to the current cocoa crop conditions and rising manufacturing costs, the report said.

Why does chocolate candy cost more this Halloween?

Chocolate prices are up because the price of cocoa has more than doubled since the start of 2024, making profitability for chocolate makers more challenging.

Cocoa prices will stay at or near record highs, with changing weather patterns across key cocoa-producing regions of West Africa negatively impacting cocoa production.

The International Cocoa Organization in August projected that global cocoa production in 2023-24 will decrease by 14.2% from 2022-2023, making for the third consecutive year with production down.

Will chocolate candy prices drop soon?

Cocoa prices are likely to remain high at least through September 2025, Wells Fargo said.

Save on Halloween candy for 2024

With no overall price relief on the chocolate candy front, the financial services company suggests shoppers consider doing the following to save on stocking their trick-or-treat bowls:

• Shop for sweet treats that contain less cocoa. Opt for non-cocoa items, or those with a filler that are not 100% cocoa
• Shop around. Retailers often offer deals to get consumers in stores.
• Buy generic alternatives. Shoppers can sometimes save about 40% on off-label purchases depending upon the product.

Contact IndyStar reporter Cheryl V. Jackson at cheryl.jackson@indystar.com or 317-444-6264. Follow her on X.com: @cherylvjackson .

This article originally appeared on Indianapolis Star: Halloween candy is costing more. Here's why, and ways to save