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How Much More Did YOU Pay for Candy This Year?

How Much More Did YOU Pay for Candy This Year?

October 28, 2022
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How Much More Did YOU Pay for Candy This Year?

Offered by Rob Taylor

Lately, "inflation" seems to be the media's favorite word. Everywhere you turn, there's another story about the impact of inflation. For example, many news outlets have reported that confectionary prices have surged over 30% from last year.

If we break down some of our favorite candy, the news isn't sweet. According to the U.S. Bureau of Labor Statistics, prices for peanut butter are nearly 9 percent higher compared to 2021. And Cocoa, chocolate's main ingredient, has also risen by more than 9 percent since December.1,2

However, although current inflationary pressures are nothing to joke about, some seasonal signs of hope are on the horizon.

Consumer confidence remains high despite the squeeze we're all feeling. Goblins and ghouls will collectively spend $3.1 billion on candy alone, outpacing last year's spending of about $3 billion. What does this suggest to us? Consumers, the driving force of our economy, are confident despite the many financial challenges they currently face.3

So come October 31, remember that whether you're handing out the sweetest of treats or helping your little ones hunt for full-sized candy bars, our confidence in one another and our nation will carry us through these challenging times.

Have a happy (and safe) Halloween, and remember, you can give us a call anytime!

DISCLAIMER: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of Global View Capital Advisors. LTD (GVCA) or any of its affiliates. The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.

1. Washingtontimes.com, October 5, 2022
2. Foxbusiness.com, October 5, 2022
3. NYpost.com, January 10, 2022