Holiday decorations are pretty - but shockingly expensive this year! Bankrate Economic Analyst Sarah Foster sums it up: "Inflation."
The same Christmas lights you hung last year are going to cost you more this year! Foster repeats: "Energy Services are up about 16%. If you're stringing lights along the outside of your house - even if they are the same ones you hung up last year - and you leave them on all night - you're going to be paying a lot more than you did last year!" Up to $300 added to your electric bill for an average size home.
Foster reports that most popular Christmas items from decorations to big meals and homemade baked goods are at least 8% higher than last year - but surprisingly: gift prices are staying stable!
Bigger Than Expected Grinch Blow Up Decoration
Retail is reporting that holiday spending is up this year, but Foster says it's too early to tell if shoppers are buying more. Just inflation alone is causing spending to be higher. "At Bankrate, we did a survey of the 40 holiday staples and we found that decorations, home furnishings [which many people buy in preparation of holiday gatherings and visitors] energy services and even groceries are climbing in price!
--- by the way...LED lights run 80% cheaper than incandescent ---
photo:GettyImages
Lots of lights and a big electricity bill.