Favorites from Mondelez, maker of Sour Patch Kids and Swedish Fish, jump nearly 40% as Trump’s Iran war and tariffs drive up costs, push 40% of parents into Halloween debt
This Halloween, the biggest frights for families are the price tags in the candy aisle. New analysis from Groundwork Collaborative and the Century Foundation finds the price of Halloween candy favorites have jumped 15.3% over the past year, more than four times the rate of overall inflation. The price hikes are enough to make any sweet tooth sour: Mondelez, maker of Sour Patch Kids and Swedish Fish, raised prices on gummy candy packs 39%; Hershey seasonal peanut butter cups are up 23%; and Ferrero, maker of Butterfinger, Crunch, Baby Ruth, and 100 Grand, raised chocolate pack prices nearly 19%.
Trump’s war in Iran and aluminum tariffs are making even candy wrappers more expensive, driving up packaging costs across the aisle. And manufacturers are adding their own bitter twist. Despite a tariff exemption for cocoa last year, candy companies have kept sticker prices high and pocketed the savings. Hershey’s profit margin jumped 50% year over year, helped by pocketing a $9 million tariff refund that never made its way back to shoppers, while Mondelez saw a similar 30% bump in margins.
These price hikes are hitting millions of families, as 74% of Americans plan to celebrate Halloween this year and 40% of parents with children under 18 expect to take on debt to celebrate with their kids. Coming on the heels of a painfully expensive back-to-school season, Halloween is delivering another blow to already-stretched family budgets.
Groundwork’s Vice President of Policy and Advocacy, Elizabeth Pancotti, shared her reaction:
“This Halloween, Trump is handing out tricks, not treats, to American families. Consumer sentiment has sunk to near-record lows as consumers face jumpscare-worthy prices at the gas pump, grocery store, and beyond. Trick-or-treaters will have to make due with miniature candy bars this year to accommodate Trump’s king-size price hikes.”
Kyle K. Moore, Chief Economist at The Century Foundation, said:
“Costumes and candy shouldn’t cost a fortune. But thanks to a 15% price hike on Halloween staples under Trump, 40% of parents are taking on debt this year – turning a fun family tradition into another terrifying bill. With debt and high prices eating into families’ Halloween budgets, it’s no wonder consumers are feeling spooked.”
BACKGROUND
Hair-Raising Halloween Prices Push Families to Their Limits
