Consumers are expected to spend $22.4 billion on Easter this year, according to a report from the National Retail Federation.
That is down from last year’s spending of $24 billion, a record high since the organization has kept track.
People will spend $177 per person on the holiday on average, the National Retail Federation found.
The biggest spending category within that $22.4 billion is $7.3 billion for food. This is followed by $3.5 billion for clothing, $3.4 billion for gifts, and $3.1 billion for candy.
@scrippsnews Do you plan on buying anything for #Easter this year? Before you head to the store, be aware of rising prices on items like eggs and cocoa. #economy #inflation ♬ original sound - Scripps News
You may want to take into account the cost of eggs this year, which are often used for both meals and decorating around the holiday.
The average cost of a dozen grade A large eggs was about $2.99 in February, according to numbers from the Bureau of Labor Statistics.
That’s up from $1.59 three years ago in February 2021, and up from $2.52 just a month prior in January 2024.
Bird flu, inflation, and chicken-feed prices are all factors contributing to recent price increases.
And let’s not forget about chocolate. The price of cocoa surged this week, meaning you could be paying more for chocolate candy and treats.
Cocoa prices have gone up more than 100% since January, multiple reports found.
The International Cocoa Organizationwrote in a statementearlier this month that, “High cocoa prices remain a significant concern due to a supply shortfall from key producers.”
Cocoa prices hit a record high heading into Valentine's Day
Cocoa futures prices have doubled over the past year and hit an all-time high of $5,874 per metric ton on Friday.
