In Wells, the price of Christmas dinner outpaces wage growth

By Laura Linham

22nd Dec 2023 | Local News

The Centre for Economics and Business Research also estimates that the average household will spend £550 this Christmas, up from £480 in 2022.
The Centre for Economics and Business Research also estimates that the average household will spend £550 this Christmas, up from £480 in 2022.

Mendip residents are bracing for a pricier Christmas dinner this year, as costs have surged almost twice as fast as monthly wages over the last two years.

This insight comes from an analysis comparing wage increases to rising festive food expenses.

The Trades Union Congress has called for urgent action to boost the economy, highlighting the financial strain on working individuals during the festive season. According to Office for National Statistics data, a traditional Christmas dinner now costs 30% more than it did two years ago.

Using these figures, the Stop the Squeeze coalition highlights the stark contrast with the median monthly income in Mendip, which has risen by only 16%, from £1,848 in November 2021 to £2,137 in the recent month.

Paul Nowak, TUC general secretary, commented, "While supermarket wars may mean some items are not as expensive as others this Christmas, let's not lose sight of the bigger picture. We can't go on like this. Working people should not struggle to put food on the table and buy presents for their family." He emphasised the need for an economic jumpstart and suggested a change in government.

Sabine Goodwin, director of the Independent Food Aid Network, pointed out the increased demand on food banks, especially from those with low wages, insecure employment, and insufficient social security payments. "Not only is the cost of a Christmas dinner unaffordable to many this year, but more and more people are facing destitution. It's time to prioritise building a fairer society based on an equitable tax system, ensuring a living income and a healthy standard of living for all," she said.

The Centre for Economics and Business Research also estimates that the average household will spend £550 this Christmas, up from £480 in 2022. This expenditure represents 26% of the average Mendip resident's monthly salary. The report highlights food as a significant factor in the cost increase, with an expected £135 spent on festive meals, £26 more than last year. Other holiday essentials like toys, games, and clothing are also projected to see a 20% increase in spending compared to 2022.

A Treasury spokesperson acknowledged the challenges, noting that inflation has decreased to 3.9% in November from double digits earlier this year. "That was by no means guaranteed at the start of the year when inflation was in double digits, and is proof that our plan is working. But prices are still rising too quickly, which is why we have put in place one of the largest cost of living support packages anywhere in Europe, and are supporting low paid workers with a record increase in the National Living Wage and cutting taxes so that people can keep more of what they earn," they stated.

     

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