Why Bernie Sanders Just Called Out Halloween Candy Inflation
Many factors go into causing inflation and over the past few years, we've seen unusual circumstances, such as the pandemic, contributing to the high spike in the cost of living. While some corporations held out as long as possible with raising their prices, others saw an opportunity to make more money.
Take, for example, the high profits recorded by oil companies when many thought the reason for the price hike was due to supply chain issues. The Guardian noted that oil corporations had the highest profit margins in over 70 years despite inflation rising by 8.5%. Back in July, when gas prices were averaging around $5 per gallon, companies such as Exxon earned $17.9 billion and Chevron earned $11.6 billion.
We can expect inflation to affect every aspect of the cost of living and there are some times in the year, you're going to feel it more than others because you don't want to reduce the quality of life of your loved ones. It's the little joys of life, such as Halloween that you'd rather not deprive your children of and that means buying candy for the spooky season. Senator Bernie Sanders took to Twitter to point out that the cost of these treats has risen by 13.1% since last September, however, he suggested it wasn't entirely inflation that caused the increase.
The real horror of Halloween, per Bernie Sanders
Senator Bernie Sanders posted on Twitter: "While the cost of Halloween candy has surged more than 13.1% since last September, the Mars candy bar family became 44% richer during the pandemic increasing their wealth by $32.6 billion. The Mars family is now worth $106.8 billion. Do you know what's scary? Corporate greed."
According to the publication Study Finds, 52% of people aren't planning on giving trick-or-treaters candy this year because of price hikes. Plus 24% blame the candy price increases on inflation. This belief is understandable given reports suggesting the same. Axios says that "soaring inflation and supply chain wrinkles" have been the cause of the price increases, however, Lindsay Owens, the executive director of the Groundwork Collaborative — an organization that tracks company profits — told The Guardian that the pandemic, war in Ukraine, supply chain bottlenecks, and corporate pricing decisions have created a "smokescreen" that obscures questionable price increases, allowing businesses to appear to be "victims."
Axios also points out that despite inflation, Halloween candy is relatively cheap and that people will probably buy it anyway.