Tricks, Treats, and Tariffs: How Trump Is Making Halloween More Expensive

Candy Prices Increased by Double Digits, Costume and Decor Prices Sour the Spooky Season 

Today, Groundwork Collaborative and The Century Foundation released new analysis showing how President Trump’s economic policies are driving up prices for Halloween’s most coveted items. Prices for trick-or-treating staples have jumped nearly 11% this year, nearly four times overall inflation. Packs of Tootsie Roll products are up more than 30%. Hershey’s variety packs are up more 20%, with a single pack running customers a full $5 more than last year. And gummy candies from Mondelez and Perfetti Van Melle — the makers of Sour Patch Kids, Swedish Fish, and Airheads — have increased by around 8%.

Trump’s price hike frights go beyond confections. More than 85% of Halloween decorations and costumes are made in China and, thanks to Trump’s reckless trade wars, face significantly higher tariffs this year. Sticker prices have climbed for popular decorations like skeletons, and a 12-foot Bone Collector runs a full $50 above last year’s price.

President Trump has failed to keep his campaign promise to lower prices and his tariffs have spooked the economy and working families, turning what should be a time of fun and celebration into a struggle to afford the basics.

Groundwork Collaborative’s Executive Director Lindsay Owens, released the following statement:

“President Trump’s policies are haunting households with higher bills, turning a season of fun into a financial fright. From candy and costumes to groceries and utility bills, working families are struggling while billionaires and big corporations make off with record profits. It’s time to stop letting the wealthy raid the candy bowl and build an economy where every family gets a fair share of the treats.

Groundwork Collaboratives Managing Director of Policy and Advocacy Elizabeth Pancotti released the following statement: 

“This spooky season, families are in for more tricks than treats. President Trump promised to make life cheaper for working families, but all he’s delivered are higher prices and bills that are scarier than Halloween itself.”

The Century Foundation Senior Fellow Rachel West released with the following statement:

“It seems that when President Trump infamously put Halloween candy on a trick-or-treater’s head, rather than in their outstretched bag, it was a harbinger of things to come. Unfortunately, kids this year will find their bags of candy lighter as a direct result of Trump’s policies that have driven up Halloween costs across the board, from Kit Kats to kitten costumes.”

Sweet Treats, Sour Prices

• This year, filling a trick-or-treat bag is costing families far more. The new analysis finds that a typical assortment of Halloween candy costs an average of 10.8% more than last year, nearly four times inflation over the past year.
• Some of the biggest jumps are in household favorites. Tootsie Roll lollipops are running families almost 34% more this season. Variety packs from Hershey’s (maker of Kit Kat, Twizzlers, Reese’s, and Heath bars) are up 22%, while variety packs from Mars (maker of Milky Way, M&Ms, Three Musketeers, and Skittles) are up 12%.

Spooky Costumes, Scarier Costs

• Trump’s web of tariffs is catching Halloween shoppers in its trap. Decking out the house and donning a costume will cost far more this year, as more than 85 percent of Halloween decorations and costumes are made in China — products now facing tariffs nearly 40 percentage points higher than at the start of this year.
• Higher prices are scaring off shoppers. Spirit Halloween has reported a 32% drop in sales in August and nearly 8% lower sales through mid-October compared to last year, according to Bloomberg Second Measure consumer transactions data.
• Retailers are warning of the impact. Target CEO Brian Cornell described the current tariff environment as “challenging and highly uncertain,” while Walmart CEO Doug McMillon noted that “costs increase each week.” By year’s end, Goldman Sachs estimates that consumers will shoulder more than 50% of all tariff costs.

The fright doesn’t end with Halloween night

• The Halloween squeeze reflects a broader economic chill. Halloween season comes as consumer sentiment has sunk to its seventh-lowest reading since records began in 1952 — lower than any point during the Great Recession. Skyrocketing prices are hitting families just as it is harder to keep or secure steady paychecks. Wage growth has plunged for workers at the bottom, unemployment is creeping up, and Goldman Sachs has noted that labor market strength has plummeted back to 2015 levels.
• Price frights are here to stay. Even after the costumes and cobwebs are tucked away, Americans won’t get a break: President Trump is threatening to slap an additional 100 percent tariff on imports from China on November 1.