U.S. candy prices surged 13% in October compared to that of last year, marking a second-consecutive year of double-digit inflation in the industry, the Associated Press (AP) reported Saturday.
The increase is more than double the 6% rise in overall grocery prices and follows a 14% hike in candy prices last October, according to the AP.
Weather challenges, particularly in West Africa, have driven cocoa prices to 44-year highs, affecting global candy prices, per the outlet. Unfavorable weather conditions, including heavy rains and subsequent droughts, have severely impacted cocoa production, according to the outlet. Additionally, global sugar prices hit 12-year highs due to disrupted supplies from major producers like India and Thailand, per the AP.
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