Christmas shoppers warned about 'buy now, pay later' schemes 

Higher prices were the main reasons for increased spending on gifts, food and decorations. Picture: iStock

Irish consumers will spend an average of €1,200 on Christmas shopping this year, a 20% jump on last year as rising inflation results in widespread price increases.

New research from Ireland's consumer protection watchdog has found that more than two-thirds of consumers plan to use their savings to fund Christmas expenses such as presents, food and decorations with one in four planning to borrow money.