Call free today: 0800 0431 431
How will inflation impact the cost of Christmas in 2022? article
How will inflation impact the cost of Christmas in 2022? article

Christmas is known for being an expensive time of year.

Even if you choose not to buy presents, like 86% of people who are spending less on gifts this year, refreshing your decorations, enjoying festive food and drink and following a busy social schedule can all cause household spending to soar over November and December. It’s not surprising then that this can often cause people to fall into festive period debt.

Of course, in 2022 outgoings are set to rise even further as people are affected by the rising cost of living. In September 2022, inflation rates sat at 10.1%. At the same time last year, rates were just more than 3%, which shows just how much the average costs for goods have changed over the space of 12 months.

Essential expenses such as heating homes in winter have reached record heights too. The new Energy Price Guarantee (EPG) announced in September 2022 means that a typical direct debit customer could be paying £2,500 a year for their gas and electricity – which is 96% higher than in winter 2021/2022. On top of this, the average annual grocery shop now costs £571 more for consumers and sales of supermarkets’ own-label value products have risen by a third over the past year.

So what does this mean for Christmas 2022, when people will have more mouths to feed and guests to keep cosy?


Festive spending over the years

Circumstances were very different last year, as we prepared for our first Christmas without strict Covid-19 restrictions. A YouGov survey released in December 2021 showed that, on average, people planned to spend £1,108 during the festive season, which was more than £200 higher than in 2020, when Tier 4 restrictions and Christmas bubbles put a limit on usual festive travel and activities.

The same survey also found that 14% of all respondents expected their debt levels to increase over the Christmas period. This rose to 51% for those who were already behind on their financial commitments by three months or more.

Now all Covid-19 restrictions have been lifted – but the cost of living crisis means that 60% of respondents plan to spend less on Christmas this year.

With such high costs, households will have some tough decisions to make on where to prioritise their spending if they’re looking to cut their budgets.

We gathered data on the price of common festive expenses, and used the Bank of England inflation calculator to find out exactly how the rising level of inflation has changed the cost of Christmas over the past 20 years.


Which Christmas items have grown in price the most?

Product Average 2022 price Average price in 2012 Average price in 2002
Stockings £4.25 3.12 £2.42
Baubles £9.30 7.02 £5.45
Garlands £29.15 22.62 £17.55
Inflatable outdoor decorations £50.00 39 £30.25
Christmas mugs £8 4.68 4.84
Gift wrapping £6.00 6.24 £3.63
Bucks Fizz £4.00 3.12 £2.42
Mince pies £2.00 1.56 £1.21
Christmas pudding £4.00 3.12 £2.42
Christmas bedding 44.00 34.32 26.62
Christmas pyjamas 28.00 21.84 16.94
Tree skirt £37.00 28.86 £22.39
Christmas jumpers £19.00 14.82 £11.5
Crackers £19.00 14.82 £11.5
Christmas napkins £15.00 11.7 £9.08
Christmas cards £7.00 5.46 £4.24
Tinsel £7.00 5.46 £4.24
Advent calendars £7.00 5.46 £4.24
Chocolate tins £5.00 3.9 £3.03
Selection boxes £3.00 2.34 £1.82
Christmas biscuits 3.00 2.34 1.82
Outdoor Christmas lights 96.67 75.66 58.69
Christmas Tree 88.66 69.42 53.85
Toy advent calendars 22.81 17.94 13.92
Wreath 28.74 22.62 17.55


Stockings were most shocking

Whether you hang yours on your mantelpiece or on the end of your bed, the traditional Christmas stocking saw the biggest increase in price. While the average cost of a standard stocking in 2022 is £4.25, in 2017 it was £3.36, growing by 26% over the last five years, and rising by almost 76% when compared to 20 years ago.

New pyjamas are a much-loved Christmas ritual, but they’ve also grown substantially in price and came 11th on our list. Treating loved ones to a new cosy set may have cost under £25 in 2017, but now the average price is almost £30, increasing by 19% over a five year period – this is 65% more than it would have cost for younger generations in the family, with the average price being just £17 two decades ago.

Whether you prefer a traditional red and white pattern, or a cosy brushed-cotton style, lots of people also love to invest in new bedding to see them through the festive season. This was 10th on the list, with prices growing by 19% over the past five years.


Toppers at the bottom

Of all the products we analysed, the Christmas tree topper was the least affected by inflation, and came bottom of our list. Prices had increased by around 60% in 20 years, and only 15% over a five-year period.

The price of an artificial tree also remained relatively stable. Although the average price in 2022 is £88.66, this has only increased by 18% since 2017.


If you’re struggling with the rising costs this Christmas and are worried about falling into festive period debt, you’re not alone. Get in touch with the team at Creditfix where we can discuss the options available to take back control over your debt.

How we helped Michael

"Professional staff - they were understanding and non-judgmental. Fantastic, quick service too. Would recommend to anyone!"

Michael, Sunderland

Get help like Michael did



 We analysed prices of a variety of popular Christmas decorations and foods at popular supermarkets and department stores in the UK.

From here we used the Bank of England inflation calculator to analyse the price difference from 5,10 and 20 years ago. Using the price differences we found out the price increase over the years.


Maxine McCreadie

Maxine is an experienced writer, specialising in personal insolvency. With a wealth of experience in the finance industry, she has written extensively on the subject of Individual Voluntary Arrangements, Protected Trust Deed’s, and various other debt solutions.

How we reviewed this article:


Our debt experts, and insolvency practitioners continually monitor the personal finance and debt industry, and we update our articles when new information becomes available.

Current Version

November 7 2022

Written by
Maxine McCreadie

Edited by
Maxine McCreadie