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Personal finance research comparison website NimbleFins has analysed staple products that make great Christmas presents, looking at which items have risen in price, and which have dropped. NimbleFins’ key findings included the fact that the price of chocolate has increased, while the price of coffee machines has decreased.
Glassware, kitchen utensils, and chocolate are among the traditional Christmas presents that have risen the most in price this year.
NimbleFins found that a number of items for sale both in shops and online are now cheaper than they were in 2021. Meanwhile, some are more expensive.
Those looking to spoil a loved one with jewellery this Christmas will find prices are up seven percent year-on-year, while chocolate, clothing and sports equipment are all up nine percent.
The biggest price increases were for glassware, crystal, ceramic, and chinaware – up 13 percent.
These were followed by non-electrical kitchen utensils and goods, which were up 10 percent.
However, coffee machines and tea appliances fell four percent in price year-on-year, while games and hobby items, such as children’s scooters, board games, jigsaws, and computer games have dropped by one percent.
Although still having risen 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 two percent in the last year, while books have increased four percent.
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Alcohol is often a popular present, but shoppers may wish to gift wine instead of beer and spirits if they want a better value gift.
NimbleFins found that wine has risen three percent in the last year, while both beer and spirits have increased five percent.
Other items with higher prices included major appliances and small electrical goods, as well as personal care, which have have all seen an eight percent rise in prices year-on-year.
NimbleFins used the latest Office for National Statistics (ONS) inflation data from October 2022, comparing it with October 2021 for its analysis.
The latest Consumer Price Index figures showed overall inflation at 11.1 percent in October 2022, up from 10.1 percent in September.
NimbleFins co-founder and CEO Erin Yurday commented on the findings. She 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 shoppers 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.
“Meanwhile, those looking at bigger items might want to avoid expensive crockery or glasses and look at a coffee maker instead.”
Full list of gifts and their inflation rate
Glassware, crystal-ware, ceramic ware and chinaware – 13 percent
Non-electric kitchen utensils and articles – 10 percent
Chocolate – nine percent
Clothing – nine percent
Sports equipment – nine percent
Major appliances and small electric goods – eight percent
Personal care – eight percent
Jewellery – seven percent
Spirits – five percent
Beer – five percent
Wine – three percent
Books – four percent
Mobile phone equipment – two percent
Toys and celebration articles – four percent
Games and hobbies – minus one percent
Coffee machines, tea makers and similar appliances – minus four percent
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