Prices of Christmas trees—both real and artificial—are the latest victims of extreme inflation, new market data revealed.
Data from the National Christmas Tree Association and the American Christmas Tree Association (ACTA) obtained by Fox Business shows that the cost of Christmas trees has increased ten percent from 2022, with the average price now between $80 and $100.
Artificial trees have been hit the hardest by the price surge, as basic trees start at around $85 and go up to $1,000 or even more.
A paper sign shows the price for a noble fir tree for Christmas in a display outside a King Soopers grocery store in southeast Denver (AP Photo/David Zalubowski).
“According to our 2023 survey, 52 percent of artificial Christmas tree owners purchased their tree for under $200, and 27 percent paid $200 to $400,” Jami Warner, executive director of the ACTA, told the outlet.
“For artificial Christmas trees, costs vary depending on the producer, retailer, size, shape, and features such as pre-lit options.”
Rising production costs are the primary factor behind the high prices, as supply chain issues still impact many industries across the United States.
While the ACTA found that 78 percent of Christmas tree consumers are concerned about the inflationary prices, 94 percent of those polled still intend to purchase one or more.
Out of those respondents, nearly eight in ten said they would opt for an artificial tree rather than a live one.
“We are encouraged to see that consumer demand for all types of Christmas trees remains high in 2023,” Warner said. “Artificial, live, small, tall, flocked, you name it – there’s no such thing as a bad Christmas tree, and there is no better way to bring cheer to the Christmas season than by celebrating with a Christmas tree.”
She recommended that consumers buy their trees early to beat the rush.
“We always recommend that consumers shop early to get ahead of the holiday rush and find the décor, type, and style of Christmas tree that best fits their needs.”
Warner added that in 2023, industry leaders are seeing “many consumers—especially those concerned about inflation—purchasing their décor well before the typical shopping seasons of November and December.”
While costly Christmas trees are worsening the financial burden on consumers this season, inflation is still harshly affecting year-round, everyday items.
President Joe Biden (iStock, Saul Loeb/Getty Images; BNN)
An October analysis from the Heritage Foundation showed that inflation is currently at a 40-year high with little evidence of improvement.
“When Biden took office, inflation was below the Federal Reserve’s two percent target, with prices rising a mere 1.4 percent over the prior 12 months,” the analysis reads.
“After a year and a half of Biden’s runaway government spending and borrowing, prices were rising almost that fast in a single month, with annual inflation reaching 9.1 percent—6.5 times the rate Biden inherited.”
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