Bidenomics Update: Less Boo for Your Buck

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Bidenomics Update: Less Boo for Your Buck

And that’s not just me, that’s the AP’s own headline — “Less boo for your buck: For the second Halloween in a row, US candy inflation hits double digits.”

The AP reported that U.S. shoppers are experiencing a second year of double-digit inflation in the candy aisle, with candy and gum prices rising by 13% compared to last October. Weather conditions in cocoa-producing regions, such as West Africa, have led to limited production. Additionally, sugar prices are at 12-year highs due to factors like Indian sugar export bans and reduced production in Thailand.

More from the AP:

Those costs, combined with increases for labor, packaging, and ingredients like peanuts, are pushing up prices for all kinds of candy.

Discount grocer Aldi is advertising a 250-piece variety pack of Mars Inc. chocolate bars — including Milky Way, Twix and Snickers — for $24.98. Two years ago, the same package was advertised at $19.54.

Hershey Co. — which has raised its prices by 7% or more in each of the last seven quarters —acknowledged this week that higher prices are taking a toll on demand. Hershey’s North American confectionary sales volumes fell 1% in the July-September period.

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