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Here's why Americans are spending more on Halloween candy

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Grandfather creates custom Halloween costume for boy with spina bifida 00:59

Americans will spend more on Halloween candy this year, due to rising candy prices and more generous spending habits.

Americans will increase their spending on Halloween candy by 4.2 percent in 2018, bringing total spending to $2.5 billion, or $20.10 per household, according to IHS Markit. 

Spending will get a boost from stronger consumer confidence and real disposable income growth, the research firm said. The cost of candy will rise half a percent, after a recent rise in the price of sugar.

IHS Markit

Still, another survey found that consumers plan to spend much more on Halloween treats. The typical consumer plans to shell out $185.50 this year on Halloween, earmarking about 41 percent -- or $76 -- for candy, according to online loan marketplace LendEDU, which surveyed 1,000 consumers. 

Respondents said they planned to spend $66.78, or 36 percent, on costumes, and $42.67, or 23 percent, on decorations.

Trick-or-treaters concerned about dental bills may want to stick with chocolate, which washes off teeth easily and quickly. according to the American Dental Association.

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