Listen Live
Spike In Price Of Cocoa Impacts Cost Of Chocolate Candies Ahead Of Easter

Source: Justin Sullivan / Getty

Easter Sunday is almost here, and this year wallets will be hurting as people prepare to celebrate holiday.

Consumers plan to spend an average of $177 per person this Easter. Overall, Easter spending is expected to hit $22 billion, making it the third priciest Easter on record with prices being up 20 percent since Biden took office.

This is according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics.

“Each year, Americans look forward to the celebration of Easter and the renewal of time and traditions with loved ones,” NRF President and CEO Matthew Shay said. “Retailers understand the importance of this holiday and are ready to help their consumers find the items they want and need at affordable prices.”

According to the NRF’s survey, people will spend most of their money on candy and food, with one of the most popular items being eggs.

The average price of eggs right now is about three dollars for a dozen. While that price is lower than last year, it is still much higher than before the pandemic, when eggs cost an average of $1.45.

In addition, chocolate prices are also on the rise. Retail chocolate prices increased more than 11% in 2023 and future cocoa prices are up 250% compared to last March.