- Others plan to host fewer guests for dinner or cut down on trips to the pub
Britons say they have bought fewer Christmas presents this year because of the rising price of household goods.
Some 51 per cent of people say they have cut back on the amount of gifts they have bought for friends and family, a poll by Savanta revealed.
Christmas celebrations are also being scaled back in a bid to keep costs down, the poll of 2,158 adults revealed.
More than a third (37 per cent) of people said they would host fewer guests than usual – or even no guests at all – on 25 December.
Meanwhile, 25 per cent said they would stay at home rather than visiting family and friends in order to save money.
Some 45 per cent said they would visit the pub or restaurants less often this Christmas season, according to the survey commissioned by the Liberal Democrats, while 55 per cent were shopping at cheaper supermarkets.
Cutting back: More than half of Britons say they will buy fewer presents this year
Households have had to cope with rises in energy, water and council tax bills this year, while tax increases in the November Budget also led some to curtail their spending.
Jobs worries are also dampening sentiment, with data last week showing that the rate of unemployment has risen to 5.1 per cent.
Meanwhile, the price of a grocery shop is rising quicker than the pace of inflation.
Daisy Cooper, Lib Dem Treasury spokesperson, said: ‘It’s depressing to think that this time of Christmas cheer will be dampened for huge numbers of Brits.
‘From buying fewer presents for loved ones, to sadly being forced to leave family and friends isolated for Christmas, the squeeze on households will have devastating effects everywhere – especially for those left alone on Christmas Day.’
While Britons may be buying fewer presents, their spending is set to increase, according to separate data.
Britons are expected to spend £24.6billion on Christmas this year, representing an increase of 3.5 per cent on a year ago, according to PwC.
However, this may be because of an increase in the cost of the things they usually buy.
The rate of inflation in November, the most recent data available, was 3.2 per cent.
Average spending per adult over Christmas is forecast to rise from £449 to £461, according to PwC’s latest Festive Predictions Survey.
Younger shoppers are set to spend more for Christmas than other age groups, with 32 per cent of 18 to 24-year-olds stating they plan to spend more money than last year, at around £541 each.
Meanwhile, the 45 to 54-year-olds age group category are on track to spend the least per head, at £436.
Of those consumers who said they are planning to spend less, the cost of living was cited as the key reason.
More than a third of people surveyed said they had less money to spend, with 34 per cent revealing their personal finances have been negatively affected over the past year. Twenty-four per cent said they were less confident about their finances.
PwC said food and drink would be the top spending priority again, with 27 per cent of consumers planning to spend more compared to 2024.
Eighteen per cent of people surveyed said they plan to spend more money on health and beauty products for Christmas, making it the third most-prioritised category.
Clothes came in as the fourth highest priority for consumer spend this Christmas, with 17 per cent planning to spend more on adult clothing this year.