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Halloween candy costs more: prices are up 7.7% in a year
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Halloween was Saturday, and the candy cost more this year. The government says prices for candy and gum rose 7.7% in the 12 months through September. Prices for everything people buy rose 3.7% over the same time, so candy rose about twice as fast. That is inflation: the same thing costs more than it did before.
The National Retail Federation expects a record $13.5 billion of Halloween spending this year, up from $13.1 billion last year. One report says the average price of a Halloween chocolate package is $5.67, up 15.5%. Cocoa is only part of the story. Sugar, packaging, shipping and workers cost more too.
Your money: Turn a percent price rise into dollars
A headline that says "prices up 7.7%" is easier to feel in dollars. To find the new price, multiply the old price by 1 plus the percent as a decimal. For 7.7%, that is 1.077.
Say a bag of candy cost $10 last year. $10 × 1.077 = $10.77. That is 77 cents more. It sounds small, but it adds up if you buy ten bags: $7.70 more over the year.
Before you buy, look at the unit price, the cost per ounce or per piece, on the shelf tag. A bigger bag or a store brand can cost less per piece, even when the sticker price is higher. And the day after a holiday, leftover candy is often on sale.
Words to know
Write what each word means in your own words.
- Inflation
- Unit price
- Daily active users
Questions
The story
- In one sentence, what happened in the top story?
- If your favorite snack went up 7.7%, would you buy less, buy a cheaper brand, or pay more? Why?
Do the math
- Candy prices rose 7.7% in a year. Prices overall rose 3.7%. About how many times faster did candy rise? Show your work.
Your turn
- A bag of chocolate cost $4 last year. This year its price is up 15%. What does it cost now? How much more would you pay for 5 bags?
Quiz
- A $20 box of candy rises in price by 10%. What does it cost now? Circle one.
- $21
- $22
- $25
- $30
What do you think?
- 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. Answer in two or three sentences, and give a reason.
Answer key
Words to know
- Inflation: A general rise in prices over time, so the same money buys less.
- Unit price: The cost of one ounce, one piece or one unit of something, used to compare different sizes.
- Daily active users: The number of different people who use an app or game on a given day.
Questions
- Answers will vary: a clear one-sentence summary of the top story.
- Answers will vary. Look for a specific reason tied to the story.
- about 2 times. 7.7 ÷ 3.7 is about 2.1, so candy prices rose roughly twice as fast.
- $4 × 1.15 = $4.60 per bag, which is $0.60 more. 5 bags × $0.60 = $3.00 more.
- B. $22. $20 × 1.10 = $22. A 10% rise on $20 is $2 more.
- Answers will vary. Look for a clear opinion backed by a reason.
Optional: tomorrow's bell-ringer, before first period
Tomorrow's bell-ringer in your inbox before first period: a five-minute money-news briefing with class slides, a quiz and a worksheet like this one. Free. You don't need it to use any worksheet.