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Toy prices jump 4.2% ahead of the holidays

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Toy prices jump 4.2% ahead of the holidays

The September price bump came amid a “tough” inflation report, with the overall Consumer Price Index up 0.6%.

Prices in the toy category increased 4.2% on a seasonally adjusted basis from August to September, according to the Consumer Price Index from the U.S. Bureau of Labor Statistics. The grouping includes toys, games, hobbies and playground equipment.

The year-over-year unadjusted percent change for toys for the month of September was 6.6%, while August through September was 4.7% unadjusted.

Toy prices are going up as shoppers ready themselves for the holiday season. Forty-five percent of consumers describe their household finances as insecure going into the holidays, and over 70% say saving money will be a priority this year, according to a report by Ibotta.

Overall, the Consumer Price Index increased 0.6% on a seasonally adjusted basis in September, after increasing 0.4% in August. Over the last 12 months, all items increased 3.7%. Gas prices rose 9.1% in September, making up over half of the increase.

The inflation report this month was “tough” and up higher than expected, according to Heather Long, chief economist at Navy Federal Credit Union.

“It’s a hot inflation report and that’s not good for anyone. Americans are seeing their pay totally wiped out by inflation. That’s been the case for half a year now,” Long wrote in emailed comments. “Today’s report is another reminder that it could be a long road to taming inflation once and for all.”

S. toy industry had its best first-half performance in six years, according to a recent report by Circana.


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