Between warnings of a recession, high inflation and layoff fears, the news is bleak. Why not have some chocolate?

Chocolate makers are reporting booming sales as stressed out customers reach for something sweet to take the edge off.

In the third quarter, sales of chocolates grew $9\mathrm{.}3\%.$

Chocolate, like many comfort foods, got a boost during the pandemic. But unlike other categories such as pizza, where interest fell off as employees returned to the office and kids went back to school, chocolate is still growing $$ thanks in part to demand from stressed out consumers.

$$Increased at$-$home occasions, the need for fun and relief from stress, and the availability and convenience of chocolate all contributed to this upward trajectory.$$

In the year through October $30,$ chocolate sales hit $$17\mathrm{.}7$ billion in US retail, according to data from market research firm IRI, up from $$14\mathrm{.}6$ billion for the year in $2019.$

One reason for the growth is higher prices for groceries and snacks, including chocolate. The increase isn$$t affecting sales too much $$ shoppers are not that sensitive to changes in the price of chocolate, said Dan Sadler, principal of client insights at IRI, who has expertise in the confections market and tracks price sensitivity$.$

$$You can raise that price, and you$$ll see a little bit of a hit to volume, but not a whole lot, not like you will in some other categories,$$ he said.

Even chocolate makers have been surprised by how well demand is holding up$.$

Elasticity $$remains below expectations,$$ said Mondelez CEO Dirk Van de Put during a recent analyst call discussing the company$$s third$-$quarter results, lower even than before Covid. $$We see consumers saying that chocolate is really something they cannot live without.$$

Hershey raised its net sales and earnings outlook for the year on November $4$th$,$ when it reported third$-$quarter results that exceeded its expectations.

$$Our products remain an affordable treat for families and for consumers,$$ said Hershey CEO Michele Buck during an analyst call. $$We know that part of that is they want to reward themselves when times are tough. They also use these products to relieve stress. And we think that those trends will continue.$$

$1.$The demand for chocolate appears to be $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

a$.$ elastic b$.$ inelastic