Working class Americans are coming unglued over the price of one Easter item on every parents’ shopping list

Photo by Annie Spratt from Unsplash

Working class Americans have been hammered by inflation for years now thanks to Joe Biden and the rest of the ruling class elites’ reckless fiscal and monetary policies.

But this could be a sign that things are about to get much worse.

And now working class Americans are coming unglued over the price of one Easter item on every parents’ shopping list.

Get ready to shell out more for your favorite treats this year as cocoa prices soar to unprecedented levels, spelling trouble for holiday indulgence.

The culprit? 

Environmental woes in West Africa, the source of over 70% of the world’s cocoa, have led to crop damage, pushing prices to alarming heights.

Sugar prices are on the rise too, climbing approximately 8% this year after a 2.7% increase in 2023.

It’s a perfect storm of soaring costs, and consumers are feeling the pinch this Easter.

As chocolate giants like Hershey’s and Cadbury’s Mondelez hike up prices to offset their mounting expenses, everyday Americans are left footing the bill. 

Profit margins are swelling for these industry behemoths, but at what cost to the consumer?

Despite their efforts, sales volumes are dwindling as consumers balk at the prospect of paying exorbitant prices for their favorite treats. 

The National Retail Federation anticipates a decline in Easter spending this year, signaling a shift in consumer behavior as wallets tighten in the face of rising costs.

Cadbury’s parent company, Mondelez, has been forced to implement hefty price increases to counter the cocoa surge, with price hikes of up to 15% in its chocolate category alone in 2023. 

Yet, even as they brace for another challenging year, Mondelez remains optimistic, banking on price adjustments to drive revenue growth in 2024.

“Pricing is clearly a key component of this plan,” acknowledges Luca Zaramella, Mondelez’s chief financial officer on a conference call in January. “Its contribution will be a little bit less than we have seen in 2023, but it is higher than an average year.”

Following suit, Hershey’s has upped its prices on chocolate and other goods, citing the need to combat inflation. 

Sales growth is expected to hover around 3% this year, as the company doubles down on its commitment to passing on costs to consumers.

But the burden doesn’t end there. 

Recent government reports reveal a staggering 5.8% increase in candy prices compared to last year, further exacerbating the strain on household budgets. 

With inflation showing little signs of abating, analysts warn of the dire consequences for consumer spending and economic growth.

While American dreamers try to fill their Easter baskets, they’re being forced to shell out more and more each year. 

US Political Daily will keep you updated on any developments to this ongoing story.