(BPT) - Pumpkin season is here and some are asking for a price check: 44% of Americans say tariffs and inflation are making pumpkin-flavored items cost more and the "pumpkin spice tax" or the premium price on seasonal items is real (39%), according to new Empower research. Still, more than half (54%) say they look forward to purchasing these specialties every season (62% younger generations). Millennials spend the most, averaging around $64 per month on pumpkin spice-flavored products during the fall, more than five times what Boomers spend at $12.

Pumpkin spice prices are on the rise

A third of Americans admit they're willing to pay more for pumpkin spice-flavored versions of everyday products, and the appetite is even bigger among younger generations: 41% of Millennials and 39% of Gen Z say the seasonal spin is worth the splurge. In fact, nearly half of consumers say pumpkin spice gives products a more premium or exclusive vibe.

While Americans say they spend $32 per month on pumpkin spice-flavored items during the fall, the spending habits vary by generation:

• Gen Z: $45
• Millennials: $64
• Gen X: $29
• Boomers: $12

Why pumpkin spice is still brewing big

For some, pumpkin spice goes beyond flavor: 54% of Americans say buying these products is something they look forward to every fall. Close to half (47%) actively purchase pumpkin spice goods during the season, and among younger consumers, that jumps to 53%.

The excitement kicks off earlier and earlier, as 1 in 3 Americans (34%) say they start buying as soon as pumpkin spice products hit the shelves, often before the official end of the summer season. For Gen Z and Millennials, that number spikes to 45%. The pumpkin effect can be a differentiator: more than a third (35%) say they're loyal to certain brands specifically because of their pumpkin spice offerings.

Still, not everyone is paying extra for pumpkin: 56% say they avoid seasonal markups, and 58% stick to a budget to avoid spending extra on seasonal flavors. Yet 48% of Gen Z admit they spend more on food and drinks in the fall because of pumpkin spice promotions (34% overall).

What's getting the pumpkin treatment?

Americans are purchasing pumpkin products across a wide range of categories:

• Baked goods - 40%
• Coffee/beverages - 39%
• Candies/snacks - 26%
• Ice cream/dairy products - 24%
• Accessories/decor - 23%
• Breakfast foods - 22%
• Personal care items - 16%

Younger generations in particular can't get enough of their seasonal coffee: 51% of Gen Z and 47% of Millennials are sipping on pumpkin spice-flavored coffee. When it comes to motivation, 37% of Americans say they simply love the taste. Another 24% say the limited-time nature of pumpkin spice makes them more likely to buy.

Visit The Currency™ to read Empower's full research report, "The Pumpkin Premium."

Methodology:

Empower's "The Pumpkin Premium" study is based on online survey responses from 2,200 Americans ages 18+ from Aug. 9-11, 2025. The survey is weighted to be nationally representative of U.S. adults.