Many people crave pumpkin spice as the weather drops and leaves begin to change. Although pumpkin spice can be found in many things, including candles and coffee, it seems that the fall flavor is going to end up costing more.

Double Digits at the 'Pumpkin Spice tax' for the first time ever

Although adding pumpkin spice to your drink sounds simple, one financial site reports that the price for this flavor is quite steep. MagnifyMoney reports that retailers will impose a "pumpkin spices tax" on products with the sweetly scented scent.

Since 2007, this tax has been in place and rises with pumpkin spice demand. It is now double-digits this year.

MagnifyMoney reports this year's pumpkin-spice tax at 14.1%. This tax is 60% more than the 2020 tax of 8.8%.

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The financial website also provided information on the cost per pumpkin spice-flavored product. They found that the pumpkin spice-related markup on Trader Joe’s Pumpkin Spiced Teeny Tiny Pretzels is 161.1%.

These pretzels cost 50 cents per ounce. Their Honey Wheat Pretzel Sticks are 19 cents per ounce.

Starbucks, the company that popularized the pumpkin spice combination in their Pumpkin Spice Latte, charges 18.3% more for this seasonal drink. MagnifyMoney discovered that Starbucks charges a dollar more to make pumpkin spice lattes, than for regular Cafe Latte.

The Negative Company with a 'Pumpkin Spice tax'

Target is the best place to shop for pumpkin spice-flavored products at a low price. Target charges less for fall-flavored products than its competitors.

Pepperidge Farm Milano pumpkin spices cookies, for example, have a tax rate of -14.3%. Also, their pumpkin spice-flavored cereal, ice cream, and oatmeal have negative pumpkin spice taxes.

Whole Foods has the highest pumpkin spice tax this year at 27.8%. Trader Joe's tax stands at 26.8% and Target's at -3.4%. The tax on their spiced pumpkin pancake and waffle mix is 129.8%.

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Although the tax may be higher this year due to increased demand, it is not more. Google Trends data has shown that pumpkin spice lattes searches have fallen 29% this year compared to 2018.

These days pumpkin spice is synonymous to fall. However, it seems like those who are in love with the flavor will have to pay more for their autumn fix.

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By: India McCarty
Title: Cozy Comes At A Cost: Pumpkin Spice Tax Can Hike Up Costs By 161%
Sourced From: www.suggest.com/cozy-cost-pumpkin-spice-tax-hike-up-costs-161-percent/2692214/
Published Date: Thu, 24 Nov 2022 17:00:00 +0000

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