After a year of soaring food prices and inflation, it’s no surprise the cost of Christmas has rocketed.

And there’s a new warning in place for families to tread carefully, as it could take a year for millions to finish paying for their festive season.

Now, some are turning to toy banks and others are cutting back on their festivities.

So, are you feeling the pinch? And how best can we cut the cost at Christmas?

ITV News Consumer Editor Chris Choi and Producer Siham Ali tell Faye Barker what you need to know...