Christmas present inflation: Which gift prices have risen most and which have DROPPED?
Glassware, kitchen utensils and chocolate are among the Christmas presents which have risen the most in price this year.
Personal finance research and comparison website NimbleFins crunched the numbers to find which gifts are hurting wallets most - and also found a number of items that are now cheaper than they were in 2021.
Those looking to spoil a special someone with jewellery this Christmas will find prices are up 7% year-on-year, while chocolate, clothing and sports equipment are all up 9%.
The biggest price increases are for glassware, crystal, ceramic and chinaware which is up 13%, followed by non-electrical kitchen utensils and goods which are up 10%.
However, coffee machines and tea appliances actually fell 4% in price year-on-year, while games and hobby items, such as children's scooters, board games, jigsaws and computer games have dropped 1%.
Although still rising in price, a few Christmas gift ideas stood out as having only a small inflationary rise, making them more cost-effective. Mobile phone equipment has risen only 2% in the last year, while books have increased 4%.
Alcohol is often a popular present, but shoppers may wish to gift wine (up 3%) instead of beer and spirits (both up 5%) if they want a better value gift.
Other items with higher prices include major appliances and small electrical goods, and personal care, which have both seen an 8% rise in prices year-on-year.
NimbleFins used latest ONS inflation data from October 2022, comparing it with October 2021 for its analysis.
The latest Consumer Price Index figures show overall inflation at 11.1% in October 2022, up from 10.1% in September.
NimbleFins co-founder and CEO Erin Yurday said: "It feels like inflation is hitting everything right now but we were surprised to find a few gifts had actually become cheaper this year. NimbleFins wants people to make the most of their money so hopefully this will help families pick better value items for their loved ones, and avoid those presents that have really gone up in price.
"Swapping chocolate for games or hobby entertainment might be more cost-effective for stocking fillers or children, while those looking at bigger items might want to avoid expensive crockery or glasses and look at a coffee maker instead."
| Category | 1 year inflation rate (October 2021 to October 2022) | |
|---|---|---|
| Glassware, crystal-ware, ceramic ware and chinaware | 13% | |
| Non-electric kitchen utensils and articles | 10% | |
| Chocolate | 9% | |
| Clothing | 9% | |
| Sports equipment | 9% | |
| Major appliances and small electric goods | 8% | |
| Personal care | 8% | |
| Jewellery | 7% | |
| Alcoholic beverages overall (broken down below)* | 4% | |
| Spirits | 5% | |
| Beer | 5% | |
| Wine | 3% | |
| Books | 4% | |
| Mobile phone equipment | 2% | |
| Games, toys and hobbies overall (broken down below)* | 2% | |
| Toys and celebration articles | 4% | |
| Games and hobbies | -1% | |
| Coffee machines, tea makers & similar appliances | -4% | |
In other research, NimbleFins has also calculated the average cost of electricity per kWh in the UK this year, as well as the varying costs people are facing across the country. Those in Yorkshire and East Midlands are paying less than those in Merseyside, North Wales and London, analysis showed.
Notes:
- The price of games, toys and hobbies overall has risen 2% but we broke these numbers down further to show games and hobbies had fallen 1% in price, while toys had increased 4%.
- Major appliances and small electric goods include: irons, kettles, heaters, electric fans, as well as large goods such as vacuum cleaners, fridge/freezers and washing machines.
- Personal care includes toiletries and hair and beauty products plus hair and beauty services.
- For a full breakdown see the ONS categories.