Key takeaways

• Holiday cookie costs nudged higher, but increases remain modest overall.

• From-scratch baking is mixed: some staples eased while others ticked up, keeping totals close to flat.

• Beverages check: milk stayed relatively affordable, while coffee became a pricier add-on.

• Cocoa prices fell by nearly half, making chocolate desserts and hot cocoa a timely value play.

Cookies and cocoa lovers can rejoice: Packaged cookies are only slightly pricier, baking at home is nearly flat, and chocolate treats just got a lot cheaper.

Holiday baking season is back, which means mixing bowls are coming out, ovens are heating up, and budgets are getting their annual check-up. Prices for holiday cookies, whether home-baked or store-bought, crept slightly upward this year — with one very delicious exception.

Store-bought cookies

Cookies purchased at the store are up 1.7% from September 2024 to September 2025, according to the latest Consumer Price Index (CPI) data.¹ Compared to last year’s 2.5% increase for purchased sweets, this modest rise signals some relief for those who value convenience during the busy holiday season.

Read more: Cold comfort: Winter travelers find warmth in flexibility

Home-baked cookies

For a basic sugar-cookie-style basket — flour, sugar, butter, eggs, and vanilla, plus the electricity to power the oven — the picture is mixed:²

• Flour & prepared mixes: +1.1% YoY

• Sugar & sugar substitutes: +2.9% YoY

• Butter: −1.8% YoY

• Eggs: −1.3% YoY

• Vanilla (spices and seasonings): +1.2%

• Electricity: +5.1% YoY

Overall, these staples are nearly flat from last year, with a slight 1.2% increase. Bakers benefit from savings on essentials like butter and eggs, offsetting modest increases in sugar, flour, vanilla, and energy costs.

Chocolate treats get sweeter (and cheaper)

Good news for chocolate-lovers: Wholesale cocoa prices — a key ingredient in brownies, chocolate chip cookies, and hot cocoa — plummeted 47% year-over-year compared to December 2024.³ After a dramatic run-up last year, this steep decline brings welcome relief, making chocolate-heavy holiday desserts and cozy mugs of hot chocolate far more budget-friendly this season.

Read more: A $1 trillion holiday season: Sparked by prices or purchases?

Milk & cookies (and coffee) check-in

What’s a holiday cookie without a beverage pairing? Milk prices rose modestly at 2.1%, keeping Santa’s classic glass within easy reach.⁴ Coffee drinkers face a bigger bill, with prices soaring 18.9% over last year.⁵ That cup of joe fueling late-night baking sessions or early-morning gift-opening now comes with a heftier price tag.

Holiday spending snapshot

All these shifts matter more this season as holiday budgets remain tight. Empower research shows average holiday spending climbed 41% from 2020 to 2024 (from $374 to $529 per household), with many shoppers carefully budgeting and seeking savings. A nearly flat baking basket, paired with cheaper cocoa, could be welcome news for households keeping a close eye on spending.

Final bite

While slight price upticks won’t spoil holiday cookie traditions, strategic choices — like leaning into chocolate recipes this year or maximizing oven use at one time to save on electricity — can help families keep the season sweet without stretching budgets too thin.