That’s a bit deer! British households could spend over half of their income on Christmas this year

The average British household is set to spend around £997 each on festivities this Christmas, according to new analysis from the shopping comparison site, finder.com. This equates to 52% of the average monthly household income after tax and pension (£1,913).

Analysing top supermarket prices to calculate the average cost of a British Christmas, Finder has revealed which traditional favourites Brits could be splurging on the most.

Topping as the most expensive item on the food shopping list is wine where the average household could be spending an average of £66 on enough bottles for a family of 4 or above. This is followed by a cheeseboard selection (£32), Christmas pudding (£23), pigs in blankets (£22) and roast potatoes (£16).

In total, a Christmas dinner for a family of 4 or more is expected to cost £291 on average. At most, that’s £73 per person indulging in a festive meal on the big day.

Furthermore, purchasing Christmas decorations could cost £176 per household on average. The costliest items on the list are Christmas trees (£36), LED lights (£20), Garlands (£16) and a 6 pack box of Christmas crackers (£14).

How much could Christmas cost in 2022?

With the IMF predicting that the inflation rate could increase to 2.62% in 2022, analysts at Finder have predicted the cost of Christmas will rise to a hefty £1,023 per household next year. This amounts to 53% of the estimated monthly household income of £1,926 for 2022 (after tax and pension).

While the UK is expected to shell out a whopping £6.5 billion on both Christmas preparations and gifts this December, rising rates in inflation and household growth could increase overall Christmas spending to almost £7 billion next year.