People in Suffolk and across the UK set to spend 65% more this Christmas than last year
This is due to inflation and the rising cost of living.
Last updated 4th Dec 2023
People in Suffolk and across the UK are set to spend 65% more this Christmas than last due to inflation and the rising cost of living,
This is according to the World Remit’s 2022 Cost of Christmas Study which also revealed...
People in Suffolk and across the UK typically spend over £850 on Christmas per household,
This breaks down to 12% on Christmas dinner at around £100.
19% on decorations at nearly £160
And 70% on Christmas presents at £600
We looked into this further and found a report by KPMG. Their research shows consumer are intending to cut back on buying gifts, groceries and socialising.
- "One-third of consumers say they will be eating & drinking out less this festive period.
- " One-third of consumers say they will spend less on Christmas groceries.
- "Four in ten consumers say they will spend less on gifts this Christmas
- "Spending cuts are most likely amongst those aged 35-44."
But what about here in Suffolk? We went out and spoke to locals in Ipswich many of whom said they were cutting back on buying presents this year.
Others chose to do a Secret Santa this year or just buy presents for the Children instead of each member of the family.
Others explained how they had bought presents in the January Sale at the beginning of the year, while some shopped around as much as possible to compare prices.
However, when it came to food there wasn't so much change in the Christmas Dinner, but more around going out around Christmas.
Locals told us if they do go out, it wont be as frequent and they'll choose less expensive restaurants or meals, perhaps just go for drinks.