As cocoa prices continue to spike, shoppers see the jump-scare prices for chocolate candy at the grocery store this Halloween season.
A streak of poor crop seasons has reduced the supply of the key ingredient in chocolate bars, driving up the price for chocolate and confectionery manufacturing from cocoa by 45% from January through September, according to the producer price index.
Chocolate manufacturers pass off the high costs to consumers, scaring shoppers off KitKats and M&Ms.
In the past year, dollar sales for chocolate candies rose 1.5%, driven by inflation and rising shelf prices, according to a report this month from the National Confectioners Association. But, faced with costly chocolate, people are cutting back on M&Ms and Hershey’s bars: The number of chocolate candy units sold over the same period dropped almost 5%.
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