NewsNationalScripps News

Actions

Prices of eggs, cocoa rise as consumers spend less on Easter

Consumers are expected to spend more than $22 billion on Easter, according to the National Retail Federation.
Prices of eggs, cocoa rise as consumers spend less on Easter
Posted at 3:30 PM, Mar 27, 2024

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 Organization wrote in a statement earlier this month that, “High cocoa prices remain a significant concern due to a supply shortfall from key producers.”

SEE MORE: Cocoa prices hit a record high heading into Valentine's Day


Trending stories at Scrippsnews.com