Shoppers will be dismayed to learn that the cost of Christmas has risen by 97% in the last 40 years.
Research conducted by insurance provider Admiral has found that the average household will spend £1,127 this Christmas celebrating the holidays.
But in 1976, the average household Christmas spend was £572.10.
The insurer’s research found that alcoholic drinks have sky-rocketed the most in price over 40 years – by a staggering 535%, five times more than the average change in expenditure by households.
This is followed closely by chocolate and sweets, which have risen in price by 435%, and vegetables, which have gone up by 355% since 1976.
Items that have risen slower than the overall cost of Christmas include kids’ bicycles (34%) and ties (23%), while the cost of clothing is the only item to fall in price (-28%).
Noel Summerfield, head of home insurance at Admiral comments: “We all know that inflation is happening, but when you look at the cost of a specific event, such as Christmas, the rising costs are really clear. Many savvy shoppers will already have taken advantage of Black Friday and Cyber Monday deals to save a few pounds when it comes to gifts. Shopping around will also help save money on festive food and drinks.”
See the table below for how the price of Christmas essentials has changed over 40 years:
|Item||Average price in 1976||Average price in 2016||Percentage change|
|Vegetables (per kg)||£1.75||£6.73||355%|
|Cultural entertainment eg, pantomime||£34.78||£154.87||345%|
|Mince pies/Christmas pudding||£0.39||£0.16||320%|
|Jewellery eg, a watch||£83.83||£345.41||312%|
|Non-alcoholic drinks (330ml six-pack)||£0.65||£2.64||308%|
|Stuffing packet mix||£0.32||£1.23||279%|
|Stationery eg, wrapping paper, cards||£2.03||£6.43||216%|
|Household goods eg, washing-up liquid, foil||£2.61||£6.94||166%|
|Games/toys eg, Child's bike||£89.95||£120.36||34%|
|Clothing accessories eg, a tie||£40.22||£49.44||23%|
|Clothing eg, dresses, PJs||£196.94||£140.99||-28%|
|Overall basket of Christmas goods||£572.10||£1,127.46||97%|
Source: Admiral, December 2017.