Shoppers can expect to spend an average of £105 more this Christmas as the prices of chocolate boxes, tins of biscuits, mince pies and cheese have risen – despite falling prices.
About 60 per cent of consumers have noticed “deflationary inflation” on festive goods, according to a report from Barclays. 36% said they had noticed this happening to boxes of chocolates; 28% noticed this on biscuit boxes; 15 percent on cheese; 14 per cent on mince pies; And 13 percent saw it on a birthday cake.
Food and drink is expected to be the biggest contributor to the rising cost of Christmas, rising by £25.87 on average, the report said. This was followed by gifts (£18.62) and activities (£11.86).