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Ahead of Easter Sunday, candy prices are higher than previous years
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BATON ROUGE - According to the Department of Labor Statistics, the price of candy has gone up 12% in the last five years.
Even though prices are going up, consumers are still expected to hit the stores and buy easter candy this year. The National Retail Federation predicts people will spend $3.5 billion on Easter candy alone this year.
A big part of Easter candy is chocolate. For the last year, chocolate prices have surged because of a cocoa bean shortage. However, cocoa bean prices are finally coming down. However, customers will not see lower prices on the shelves this Easter holiday.
According to ABC News, companies purchase their cocoa beans months in advance. So the current inventory still reflects those higher prices.
The good news is that experts predict cheaper chocolate around Halloween.
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