Aside from the presents, getting the biggest turkey in the shop, making sure the house is warm and festive and the compulsory family argument, the other tradition at Christmas is the vast expense it costs us all.
Christmas has always been expensive but over the past few years it seems to have really crept up. Whilst factors such as weather conditions are frequently blamed on meat and vegetable price hikes our research shows that when the Christmas dinner is priced in gold ounces or gold grams, rather than British pounds or dollars, prices haven’t crept up anywhere near as much, and in some cases are going down in price.
So whilst governments can argue that price increases seen in food overall remain below the inflation measurement basket, it suggests that the real rate of inflation is significantly higher.
Christmas is celebrated by over 160 countries, each with their own traditions. And within them each family has their own ways of doing things. Here in the UK, and in the US, we have the traditional Christmas meal which usually comes with turkey and all the trimmings.
According to the grocer.co.uk the price of the UK traditional dinner has increased by 14.3% in the last four years. However when we convert the cost into gold ounces the price has in fact decreased by 35%.
Turkey ‘Aint So Bad
The cost of meat is one of the biggest gripes today, but is the price going up or is the value of cash going down?
In the UK we have seen a 14% increase in the cost of frozen turkeys since 2008 when priced in British pounds. However, when priced in gold ounces we see a decrease in the average price of a turkey by over 34%.