(COLORADO) — Colorado loves the pumpkin spice latte, but this year the “pumpkin spice tax” has increased according to a study done by MagnifyMoney.

The pumpkin spice tax is what MagnifyMoney refers to as the upcharge seen around this time of year on pumpkin spice-flavored products. In 2022, consumers will be paying more than in the past for their pumpkin spice fix.

Iced coffee sits next to pumpkin spice K-Cups

“In fact, the average pumpkin spice tax is in the double digits — the highest it’s been since we began conducting our pumpkin spice studies in 2007,” says MagnifyMoney.

The pumpkin spice latte was introduced by Starbucks in 2003 and started a trend that grew to include pumpkin spice-flavored products all over the market. Many retailers have their own version of pumpkin spice in products, ranging from coffee flavors to pancakes, cookies, and cereals.

MagnifyMoney analyzed 80 grocery and coffee products from six retailers and found that the average pumpkin spice tax is 14.1%. That means that consumers will pay an average of 14.1% more for a pumpkin spice-flavored version of an item.

Over the past five years that this trend has been tracked by MagnifyMoney, Colorado has had “the highest pumpkin spice latte search volume” while Arizona and Washington placed second and third respectively.

MagnifyMoney has a few recommendations to save your budget while still enjoying Colorado’s favorite fall trend:

  • See what discounts your coffee shop offers. Although many coffee shops stopped allowing you to bring in your own cup for a discount, some Starbucks locations have begun bringing the practice back. While the discounts are small, doing so can help you build your savings in the long run.
  • Shop around for your pumpkin spice fix. “Comparison shopping is the best way to find a deal,” Mangla says. “And don’t be afraid to look for sales.” For example, consider hitting up Dunkin’ instead of Starbucks, or plan your pumpkin spice fix on Starbucks double star days to get some rewards points.
  • Budget for your fall favorites. If you splurge on pumpkin spice a fair amount, it may be worth making a budget — particularly as costs are on the rise for virtually everything. While the cost of a pumpkin spice latte isn’t much in the grand scheme, having a plan can give you peace of mind and improve your financial health.