A few months ago I talked about the world’s biggest chocolate factory having to shut down and how I bet it’d cause a huge jump in holiday candy and baking prices. Guess what?
According to the US Bureau of Labor Statistics, the cost of candy has gone up an average of 13.1% from last year. That’s the most the price of candy has ever jumped in one year. The last time candy jumped 13%, it took 9 years to do it. The fact that the price of sugar and flour both jumped by double digits and shortages are to blame. The candy companies don’ want you to notice. Look at a bag of M&Ms. They’re just over 7 ounces now. Last year they were 10 or 11. And they cost more too. That said, the average household says they plan on spending $30 on candy this year. Americans are expected to drop $3.1 billion altogether.
Remember in years past there were the bigger variety bags that were the most expensive? They usually topped off between 9 and 12 bucks. I saw a $25 variety bag and a $40 variety bag the other day! The way prices keep rising, it might be a smart move to send your kids out for as much candy as possible, have them hold onto it for a couple of months, and then resell it for a huge profit right before Christmas.