Gifts get cheaper, Halifax Unsecured Personal Loans says

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Gifts get cheaper, Halifax Unsecured Personal Loans says

The cost of popular Christmas gifts and treats has gone down over the last two decades, Halifax Unsecured Personal Loans said today.

Festive favourites such as chocolate, spirits and jewellery have dropped in real price terms, according to research carried out by the bank using data from the Office for National Statistics (ONS).

Socks and woolly jumpers saw the largest real price fall over the last twenty years, reaching a 53 per cent reduction, closely followed by toys at 52 per cent.

Ian Corfield, head of Halifax Unsecured Personal Loans, said: "It's nice to see that traditional Christmas spends have become more affordable over the last 20 years, hopefully making the Christmas pound go further."

However, Halifax noted that the 'must-have' gifts of the year, such as the Xbox, seem to be much more expensive than the most popular gifts used to be 20 years ago.

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