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UK Cost of Living Crisis Forces Families to Scale Back Christmas

Families are having to make tough decision to cut back on presents and Christmas dinner as inflation squeezes finances.

Soaring inflation has forced many households to reassess their spending for Christmas this year.

Soaring inflation has forced many households to reassess their spending for Christmas this year.

Photographer: Jonathan Knowles/Digital Vision/Getty Images

For the last two years, Covid muted Christmas celebrations across the UK, with people avoiding social situations or stuck into isolation through illness. This year’s menace is soaring inflation, which has forced many households to reassess their spending for the holidays.

2022 has been dominated by the cost-of-living crisis, and the figures are staggering. Inflation is running at a double-digit pace, the highest in 40 years and far outpacing wage growth. Food prices are up almost 20%, the cost of heating a typical home has jumped more than 150%.