Overall spending predictions have reached sky-high numbers. Consumers spent about $12.2 billion on Halloween in 2023, and this year, that number is expected to hit $13.1 billion.
However, prices paint a dark picture for seasonal shoppers. In 2000, wholesale pumpkins cost $9.43 per hundredweight (100 pounds), allowing someone with the average personal income of $29,454 to theoretically purchase 3,123 pounds of pumpkins.
By 2025, pumpkin prices reached $20.01 per hundredweight – more than doubling – while average income grew to $73,459. Despite this income increase of 149%, Americans can now afford just 3,671 pounds of pumpkins with their full annual income, representing only a modest 18% improvement in purchasing power over 25 years.
"What we're seeing is a classic case of sector-specific inflation outpacing general wage growth," explains Sam Bourgi, researcher and finance analyst at InvestorsObserver. "While families are earning more in absolute terms, the cost of seasonal traditions like Halloween decorating is consuming a larger portion of household budgets."
Even though Americans earn more, they can’t buy significantly more Halloween supplies than they could 25 years ago. The general trend shows a decline in affordability. According to data, 31% of Americans went into debt last year during Halloween, and 25% expect that the same will happen this year.
Costumes may also have increased significantly due to tariffs since many are manufactured outside the U.S. Halloween costumes that previously cost $19.99 have jumped to $39.99. Even a simple mask, which was priced at $4.99, could now cost $9.99.
Peak Purchasing Power Already Behind Us
The analysis reveals that pumpkin affordability peaked in 2023, when Americans could purchase 4,593 pounds with their annual income – the highest level in the dataset. However, dramatic price increases in 2024 (+30%) and continued growth in 2025 have quickly eroded these gains.
The volatility is particularly striking in recent years:
2022: Pumpkin prices surged 17% to $16.60 per hundredweight
2023: Prices retreated 10% to $14.90, creating the affordability peak
2024: Dramatic 30% increase to $19.30
2025: Continued growth to $20.01
Broader Halloween Cost Pressures
Pumpkins aren't the only Halloween staple becoming less affordable. The Consumer Price Index for candy and chewing gum has increased 45% since 2015, with particularly sharp increases during the inflation surge of 2021-2022.
"Families planning Halloween celebrations need to factor in these sustained price increases across multiple categories," the analysis notes. "The data suggests this isn't a temporary spike but part of a longer-term trend affecting seasonal spending."
According to the National Retail Foundation, candy spending is among the most popular during this time, and it is expected to reach $3.9 billion in 2025.
Economic Context and Consumer Impact
The 25-year trend reveals distinct economic periods reflected in pumpkin pricing:
2000s volatility: prices fluctuated with economic instability, peaking during the 2008 financial crisis
2010s stability: moderate price growth averaging 2.3% annually
2020s inflation surge: dramatic increases averaging 7.3% annually since 2020
Despite overall U.S. per capita income rising 56% from 2015 to 2025, the purchasing power gains have been largely offset by inflation across consumer categories, leaving families with flat real purchasing power for holiday traditions.
How to Plan Ahead for Seasonal Spending
Rising prices across essential categories – candy, costumes, decorations, and pumpkins – mean that Americans are spending more each year just to maintain familiar holiday traditions. However, the data suggest Halloween budgeting requires more careful planning.
“With pumpkin prices showing continued upward pressure and purchasing power at 25-year relative lows, people may need to budget higher amounts for seasonal decorations, consider alternative decoration strategies, and shop earlier in the season when selection and pricing may be better. They also should factor in continued price growth for future Halloween celebrations,” said Bourgi.
Although paychecks are larger, they don't go much farther at the pumpkin patch or candy aisle. For families organizing Halloween celebrations, this means tighter budgets and more cautious shopping as the rising costs are unlikely to be offset by proportional wage increases.
ABOUT SAM BOURGI
Sam Bourgi is a finance analyst and researcher at InvestorsObserver, bringing over 13 years of expertise in financial markets, economics, and monetary policy. His professional background spans the private, nonprofit, and public sectors, where he has held positions such as senior policy adviser, labor market analyst, and marketing director. Sam’s in-depth research and market analysis have been referenced by leading institutions and organizations, including the U.S. Congress, Department of Justice, Chicago Board Options Exchange, Bank for International Settlements, Boston University Law Review, Barron’s, and Forbes. Sam regularly appears on TV, including CBN, KFYR TV, and ABC30, and is often quoted by such media outlets as the SF Chronicle and MSN.
ABOUT INVESTORS OBSERVER
Investors Observer is a trusted source of independent financial analysis, market insights, and investment research for individuals and institutions. Founded to empower retail investors with actionable intelligence, InvestorsObserver delivers timely commentary, data-driven studies, and accessible financial tools designed to simplify complex market trends. Its research and insights have been featured by various media outlets, including Yahoo, The Guardian, Morning Star, Nasdaq, and more.
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