The amount of money the tooth fairy leaves under a child’s pillow has increased by 4.9% in the last year.
Research by insurer SunLife shows a child now receives an average of £1.49 when they lose one of their baby teeth.
One year ago the average figure was £1.42 meaning the ‘tooth fairy inflation’ rate of 4.9% is much higher than the official rate of inflation, which stands at 2.6%.
The most common amount received by children is £1, with 42% receiving this amount of cash. One-seventh of kids receive a £2 coin while a lucky 8% get more than £2.
Children in London tend to receive more cash for their teeth, with the average child finding £1.88 under their pillow. This compares to the South West where the average haul is £1.18.
In the capital 11% of children get £5 for each tooth they lose.
‘It’s a great opportunity to get children into the savings habit’
Ian Atkinson, director of marketing at SunLife, says: “Children love getting a visit from the tooth fairy and are excited to tell their classmates what they found under their pillow.
“Our research shows that £1 is the most common amount, but there are lots of kids that receive more or less and kids talk. So many parents end up giving their kids a bit more for the next tooth, otherwise they need to come up with a good reason why the tooth fairy doesn’t leave the same amount for everyone.
“But whatever the amount, the tooth fairy does offer a good way for children to start learning the value of money – and of teeth. With a mouthful worth almost £30 it is also a great opportunity to get children into the savings habit.”
What do kids have to say about the tooth fairy?
Izzy, aged eight, says: “I have got a £1 for all my teeth. Even when I accidentally swallowed my tooth - because it fell out when I was eating an apple - I still got a pound. I left a note to the tooth fairy to say what happened and she left a chocolate coin as well that time which was really cool.”
Arlo, aged six, says: “I haven’t lost any teeth yet but I can’t wait as I’ll get £1 from the tooth fairy and I can buy some Match Attax [football cards] or save it.”
Tilly, aged eight, says: “I loved getting £1 from the tooth fairy but then found out that some of my friends get £2 or even more. I’m a bit confused why some people get more than other people. My Mum says it depends on which fairy you get, but that seems really unfair.”