As the calendar flips to October, the countdown to Halloween has started all across the nation. But this year, businesses are bracing for President Donald Trump’s possible tariffs on a variety of imported goods, raising their prices on Halloween items in anticipation of higher costs.
The National Retail Federation says that consumers are spending $114 dollars per person this Halloween. That’s $11 dollars more than last year.
“Tariffs this year are on people’s minds,” said Katherine Cullen, the National Retail Federation’s vice president of industry and consumer insights.
According to the Alliance for American Manufacturing, virtually all Halloween costumes on the market are imported, which means they’ll be subject to tariffs.
Cullen says the organization saw more people start shopping in September or earlier for Halloween because they worried about items costing more. According to the latest Consumer Price Index, prices on candy and other treats are already up from a year ago.
The National Retail Federation projects consumers will spend a little over 13 billion dollars this year on Halloween — a new record.
But Cullen says shoppers could save their money by shopping at discount stores, reusing decorations and getting crafty with costumes.
“In times of uncertainty, and we’ve seen this starting with the pandemic, during times of inflation and others, people are turning to these celebrations,” said Cullen, “where, no matter what’s going on in the world, you can dress up in something fun.”
