As we flip the calendar over to October, the countdown to Halloween begins.
But this year, tariffs have had a terrifying effect on spending as we roll out the pumpkins, ghosts and goblins.
“Tariffs this year are on people’s minds,” said Katherine Cullen with the National Retail Federation.
Cullen said they’re seeing more people start shopping in September or earlier for Halloween because they’re worried items will cost more, so they’re spreading out their purchases.
The National Retail Federation projects consumers will spend $13.1 billion this year on Halloween. That would be a new record.
The NRF says people are spending about $114 per person. That’s nearly $11 more than last year.
“Many of those costs haven’t yet been passed onto consumers. It is impacting certain goods differently. We may be seeing it a little bit more in nondurable goods,” Cullen said.
President Donald Trump implemented tariffs on a variety of imported goods to encourage companies to make products in the U.S.
According to the Alliance for American Manufacturing, virtually all Halloween costumes on the market are imported, which means they’ll be subject to tariffs.
Candy and sweets prices are also up from a year ago, according to the latest Consumer Price Index.
“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, these fun holidays where no matter what’s going on in the world, you can dress up in something fun,” Cullen said.
If Halloween prices are giving you a scare, there are ways to save.
Cullen suggests shopping at discount stores, reusing decorations and getting crafty with costumes and décor.