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Halifax reveals children's inflation rate

30 March 2009 11:28:00

Halifax has revealed the rising cost of children's goods. image
Halifax has revealed the rising cost of children's goods.
The cost of keeping a child clothed and fed has risen at a slower rate than general retail price inflation (RPI) over the past 10 years, new figures show.

While RPI has soared by 32% over the past decade, analysis carried out by Halifax found that 'children's inflation' has risen by just 22% over the same period.

This included a 67% increase in the typical cost of sporting and cultural activities, though this was more than offset by the fact that games and toys declined in price by 29%.

Meanwhile, the cost of confectionary and snacks and drinks increased by 7% over the past year alone, while the cost to parents of daily school meals also grew to account for 19% of the total cost of a child's budget.

Commenting on the figures, Suren Thiru, an economist at the home insurance provider, said: "Children in the UK saw their own retail price index rise by more than a fifth over the past decade, markedly lower than the increase in the general retail price index over the same period.

"Food and drink costs are a key part of children's spending, accounting for nearly four tenths of the total average weekly expenditure of a typical child."

The Consumer Price Index gauge of inflation stands at 3.2% considerably above the government's 2.0% target.
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