As children hit the streets in search of free candy, they might want to bring a bigger bag as one research firm expects them to see a pretty big haul this year with spending on Halloween candy expected to rise to its highest level in 14 years
In a recent report, economists at IHS Global Insights expect Halloween candy sales to total $3.8 billion this year, up 5.5% higher compared to last year, as consumers take advantage of lower prices and an improving economy.
“Overall, real consumer spending has been relatively strong since last Halloween due to modest consumer price inflation, low gasoline prices, better employment opportunities, and improved household finances,” the economists said. “Americans are likely to spend billions on Halloween candy, costumes, and other creepy paraphernalia this year. $30.60 per household.”
Along with improving consumer spending, IHS is expecting consumers to get a sweet treat as they are forecasting candy prices to fall 0.4% compared to last year, the first decline in three years.
Read more by MarketSlant Editor
