After 2020 pumpkin pricing jumped almost $1.50

Upper Cumberland – It’s getting creepy people, and inflation is putting a squeeze on most American’s budgets during this spooky season. 

According to a report by Finder, the price of pumpkins has increased (again) by 44%.

The price of a single gourd has gone from $5.40 in 2022 to $5.47 in 2023. 154 million Americans (roughly 46% of the population) will buy pumpkins this year for jack-o’-lantern carving and porch decorating this Halloween. 

I guess priceless memories aren’t exactly priceless after all.

“Overall, Halloween 2023 is expected to be a more expensive day with the National Retail Federation,” according to Finder. “Americans are forecast to spend $12.2 billion on All Saints’ Day in 2023, up from the record-breaking $10.6 billion they spent in 2022.”

According to the report, pumpkin carvers will spend an estimated $843.6 million this Halloween, up $92 million (12%) from $751 million last year. Gourd pricing remained below $4.50 from 2015 until 2020, according to the U.S. Department of Agriculture. 

After 2020 pumpkin pricing jumped almost $1.50. 

There are ways to offset the cost, according to Finder’s Money Expert Laura Adams. For instance, Many Americans have decided to create homemade decorations from Goodwill, thrift shops and online thrift shops. The like-new items can come at a fraction of the price.

According to confectionarynews.com, a business-to-business candy publication, the price of Halloween Candy, an industry that generates $42 billion a year, has been steadily rising over the past few years as well. Chocolate has a higher price than confectionary (sweet food items, such as candy, pastries and cakes) while marshmallows and candy-coated confections had the lowest average unit pricing. Nationwide, consumers are expected to spend a record 12.2 billion on Halloween candy, costumes and decorations, according to the National Retail Federation

Increasing prices may just be the scariest part of Halloween this year.

Image by gpointstudio on Freepik.

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Ron Moses is the managing editor of the Upper Cumberland Business Journal and can be reached via email. Send an email.

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