The price of some popular gift ideas have climbed in price by as much as 15% compared to last Christmas, according to a study of data from the Office for National Statistics (ONS).
Tax refund firm Rift analysed data from the ONS Inflation and price indices. It looked at the current cost of 101 popular Christmas gifts and how their cost has changed since last Christmas. The research showed that clothing items are best avoided this Christmas, accounting for the top 10 largest increases in price.
Everything from girl’s trousers and leggings; kid’s jumpers, trainers and pyjamas; women’s cardigans, men’s jackets; and baby grows have seen increases of between 10% and 22% in price.
Large chocolate bars have also seen a price hike of 10% since last Christmas, as have golf balls. Best selling books are up by 9%, while theatre tickets, mascara and silver earrings have climbed by 8%.
Other popular gifts in the list include power drills (+7%), adult craft hobby kits (+6%), houseplants (+6%), fashion necklaces (+5%), men’s ties (+5%), cream liqueurs such as Baileys (+5%), children’s sit and ride toys (+4%), men’s watches (+4%), socks (+4%) and jigsaws (+4%).
Furthermore, those all important AA batteries will also cost 8% more when compared to last Christmas, although another Christmas essential wrapping paper has only seen a 1% price hike.
“The high cost of living continues to linger like the proverbial lump of coal at Christmas and, unfortunately, we’re facing yet another festive season of higher costs both when it comes to the gifts we place under the tree and the items we place on the table,” said Bradley Post, MD of Rift.
“While this increased cost may only amount to a few pence on some items, it all adds up when you consider the increased spend that comes at this time of year and many shoppers probably won’t notice the difference until they get to the checkout.
“For those worried about how they are going to make ends meet, a strategic shopping list could help. It may be that some sought after gifts are better left until next year.”
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