Americans to Spend Record $13.5 Billion on Halloween

Americans are expected to spend a record $13.5 billion on Halloween this year, with $4.1 billion dedicated to candy. This spending surge occurs despite a rise in the Consumer Price Index for chewing gum and candy, which increased 8.1% as of August.

While raw cocoa prices have declined sharply from their January 2025 peak, retail chocolate prices have not dropped. Alexis Villacis, an assistant professor at The Ohio State University, explains that raw cocoa is only one part of final pricing. Manufacturers continue to face high costs for labor, energy, and transportation, or are bound by expensive previous contracts.

The International Cocoa Organization reports a market shift from a 492,000-ton shortage in 2023-2024 to a 37,000-ton surplus in 2024-2025. However, the market remains fragile. Villacis notes that while retail prices may rise more slowly over the next year, a rapid decline in cocoa prices could create serious income pressure for farmers.