This_Christmas,_UK_shoppers_will_pay_more_for_less

This Christmas, UK shoppers will pay more for less.

Economists have cautioned that Britons will end up paying more this Christmas for less.

The price surge will even be felt in restaurants; as per the Center for Economics and Business Research (CEBR), the average UK household will pay out £550 for toys, games, clothing, food, alcohol, goods, and services. These expenses are £70 more compared to last year.

The average basket containing alcohol and tobacco will cost £26, while that of drinks is anticipated to rise by 26%.

The biggest portion is food, costing an average of £135 (23% more), while toys, games, and clothing are anticipated to surge by 20% compared to last year.

However, there is a little consolation, as for those who wish to have a traditional Christmas dinner, it is marginally expensive.

As per Kantar, due to fierce competition between the supermarkets, the average dinner for a family of four is 1.3%, or £31.71, this year, which is well below the food inflation of 9.1% that was recorded last month.

Although brussels sprouts are 4.3% cheaper compared to last Christmas, a jar of cranberry sauce is 26.5% more expensive.

As per the official data, spending power this Christmas is higher as wage rises are finally beating down inflation.

Compared to 1998, 2022 Christmas was the bleakest, as per CEBR, due to surging inflation and weak consumer spending—this November and December saw more than a fifth of all retail sales compared to the last two decades.

- Published By Team Timeswire

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