Setting a Halloween budget? How does $75 sound?

Gregory Karp

Millions of Americans will embrace the season of witches and pumpkins this year as they spend nearly $75 each on Halloween costumes, candy and decorations, the National Retail Federation projected Wednesday.

Total spending is expected to reach $6.9 billion, or $74.34 per person, down about 4 percent from last year.

Dressing up: An estimated 68 million Americans will dress up this Halloween, and 20 million plan on costuming their pet. Average spending on costumes for the family is expected to total $27.33.

Trick-or-treaters will be pleased to know that nine in 10 Halloween shoppers are expected to buy candy, spending a total of $2.1 billion, and about one-third will buy greeting cards, spending a total of $330 million.

Less than half, 45 percent, plan to decorate their home or yard, with the average person spending $20.34.

About 41 percent of people plan to carve pumpkins, and nearly one-third plan to throw or attend a party.