Warm-up
About how much do you spend on snacks and treats in a typical week?
- Nothing
- $1 to $5
- $6 to $15
- More than $15
Hands up for your answer.
Top story
Candy prices are up 7.7% in a year, about twice the rate of prices overall.
- Candy and gum prices rose 7.7% in the 12 months through September.
- Prices overall rose 3.7% in that time, so candy rose about twice as fast.
- Cocoa, sugar, packaging, shipping and labor all cost more.
7.7%
how much candy and gum prices rose in a year
Talk about itIf your favorite snack went up 7.7%, would you buy less, buy a cheaper brand, or pay more? Why?
Your money: Turn a percent price rise into dollars
New price = old price × (1 + the percent as a decimal).
Turning percents into dollars shows what a price rise really costs you.
- $10 bag × 1.077 = $10.77
- $10.77 − $10.00 = $0.77 more per bag
- 10 bags × $0.77 = $7.70 more a year
TakeawayCompare the unit price, not the sticker price, before you buy, and wait for sales on seasonal items.
Guess the number
Candy prices rose 7.7% in a year. Prices overall rose 3.7%. About how many times faster did candy rise?
about 2 times
7.7 ÷ 3.7 is about 2.1, so candy prices rose roughly twice as fast.
Pop quiz
A $20 box of candy rises in price by 10%. What does it cost now?
- A$21
- B$22
- C$25
- D$30
B. $22. $20 × 1.10 = $22. A 10% rise on $20 is $2 more.
Discuss
Candy prices rose twice as fast as prices overall. Should stores and makers keep raising prices when their costs rise, or should they find other ways to cut costs? Make your case.
Worksheet
Today's worksheet
The story, the money lesson and questions, with an answer key on its own page.
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