Halloween spending to increase by $500 million as candy prices soar

Halloween spending to increase by $500 million as candy prices soar

Halloween spending is expected to rise by $500 million in the US, even as Americans struggle with the pressure of inflation.

The total Halloween spending is expected to hit $10.6 billion this year, according to reports.

This will mark an increase of 5% ($500 million) over last year.

Furthermore, it is a $2 billion (about 20%) rise over the $8.8 billion spent on Halloween in 2019.

Spending on costumes is reported to rise to $3.6 billion this year, according to a survey.

A majority of Americans have said that inflation was impacting their Halloween expenditure.

People are expected to buy less candy this year amid surging prices of treats.

In September, inflation was up by 8.2% compared with last year.

The price of candy and chewing gum also increased 13.1% year-over-year in September.