Families already worried about cost of Christmas as inflation reaches 40-year high

Most families are already worried about the cost of Christmas this year, a new survey has found.

New research by parenting website Mumsnet found a 31 per cent drop in the number of people who plan to donate to food banks over the festive period as they can’t afford it.

Two out of five people are more likely to buy gifts that friends and family need rather than want, according to a survey of 1,000 users.

One user said they will not be able to provide gifts for their children.

“We can’t afford the heating this winter, or cost-of-living rises, so we are expecting to be poor, cold and miserable as we cannot afford gifts for our children,” they commented.

Another said Christmas Day is the only time they will turn their heating on in Winter.

“Where am I going to find the money for presents – as most (of) the money saved has gone on fuel and energy,” they added.

Another said they are “terribly sick with worry” that they “won’t be able to afford anything this year”. They added: “I’m absolutely dreading it.”

The cost of living has rocketed in recent months, with economists blaming factors such as Russia’s war on Ukraine and Brexit for soaring inflation.

Figures from the Office for National Statistics, published earlier this week, showed that inflation accelerated to 9.4 per cent in June – a new 40-year-high for the UK.

The figure is the highest since 1982, when inflation peaked at 11 per cent.

Also in April 2022, the energy price cap – the maximum amount a utility company can charge a customer per year for electricity and gas – rose from £1,277 to £1,971 for a household on average usage.

Justine Roberts, Mumsnet chief executive commented: “We were shocked at the level of fear and apprehension that this research revealed.

“Mums told us repeatedly that rather than looking forward to the festive season, they are - in their words - “sick with worry” about the cost of Christmas.

“We’ve heard precious little so far from both candidates for the Tory leadership on how they will tackle soaring energy bills, sky-high childcare costs and ever increasing food and fuel bills. This has to change.

“The next prime minister must take office with a plan to immediately ease financial pressures on families - or this winter could be catastrophic.“