Christmas spend to rise to €1,177 as a quarter of us plan to splurge more than last year

'Know the full cost of credit before you buy, and only borrow what you’ll be able to repay,' is the advice offered by Gráinne Griffin of the CCPC. Pic: iStock

One fifth of Irish people plan to borrow an average of €631 to cover the cost of Christmas this year, with the average spend set to be 14% higher than last year.

Research published on Monday by the Competition and Consumer Protection Commission found that a quarter of Irish people expect to have a higher spend this year for Christmas because of rising prices and pressure to buy more gifts.