The article highlights how Economy Candy, a small candy store in New York, is grappling with the impacts of new tariffs imposed by President Trump. Owner Mitchell Cohen expresses concern that nearly all of the shop’s over 2,000 candy items will see price increases due to tariffs, with inflation already affecting chocolate and candy prices significantly. Facing a challenging economic landscape, Cohen focuses on maintaining affordability while fearing the consequences of escalating prices in the industry, which has seen candy prices rise substantially in recent years.
Standing amid it all, columns of bright jellybeans to his left and exotic Kit Kats to his right, owner Mitchell Cohen is quick with his assessment of how many of this shop's 2,000-plus items are affected by the historic round of tariffs announced by President Donald Trump. 'I think all of them,' Cohen says at his store on New York's Lower East Side.
Cohen had just begun to feel a barrage of inflation-driven price increases from suppliers ease when the tariff threats arrived. For a business with a name like Economy Candy, he wants to remain affordable but fears how high some prices may have to climb in the coming months.
'I think it's gonna be another round of this hyperinflation on some items,' says 39-year-old Cohen. 'If we're putting tariffs everywhere, it is going to go up.'
Candy and gum prices are up about 34% from five years ago and 89% from 2005, according to Consumer Price Index data. Price, according to the National Confectioners Association, has become the top factor in consumers' candy purchase decisions.
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