Even though it may not seem it, Christmas is becoming more affordable, says Halifax Unsecured Personal Loans.
Halifax used data from the Office of National Statistics (ONS) to find the price change of traditional items compared with wage increases.
Halifax found that the price of traditional Christmas items such as jewellery, socks and woolly jumpers have actually fallen in price over the past twenty years.
Toys fell by the next largest amount, at 52 per cent, with the cost of a Christmas lunch also seeing heavy reductions.
Brussel sprouts dropped by almost a third (31 per cent), turkey is now 28 per cent cheaper than 20 years ago and wine and Christmas cake have both become 19 per cent less expensive.
Those looking for a special gift for their partners will be delighted to find out that jewellery has also fallen in real price by 19 per cent.
But it has not all been one way.
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.
But set against the overall fall in most Christmas goods this is a relatively small price to pay.
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, research by Virgin Credit Card says it takes people, on average, three months to pay off Christmas debts.
In total, the country spends £13 billion on Christmas celebrations every year.
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