With the average consumer estimated to spend almost €1,200 this Christmas, Ciara Kelly says she already feels "overwhelmed".

New research from the Competition and Consumer Protection Commission anticipates a surge in Christmas spending this year, with a 14% increase in average expected spend.

Three-in-five consumers will dip into their savings to fund the holiday season, while one-in-five will use credit to cover Christmas expenses.

Both rising prices and the pressure to buy more gifts are cited as the reasons behind the expected increase in spending.

Newstalk Breakfast host Ciara Kelly said she is already anxious about how much Christmas will cost this year.

"I am kind of worried about Christmas," Ciara said.

"I haven't been awash with cash since the summer, and I'm looking at what I have to spend."

'It all adds up'

Ciara said if she could stick to the expected average of €1,177, she would be "doing alright".

"Between the food and the alcohol and the presents and the decorations, and all the little add-on fecky things – the stocking filler that should be a €5 but is actually €30 - I am a bit worried," she said.

Presenter Shane Coleman said he frequently regrets spending too much money on Christmas.

"After Christmas every year, I kind of go ‘Oh, there’s got to be a better way, is it neccessary to go that over the top?'" he said.

"And then every year I repeat the same mistake."

Christmas comparisons

Shane said he notices a big difference between Christmas today and the Christmas of his childhood.

"When I was a kid, the spend was a fraction of what it is now," he said.

Ciara agreed that Christmas presents used to be more modest.

"When I was a young adult, you did still get a present, but it would be a jumper or something like that," she said.

She said her children still expect to receive a "Santa sack" each year.

Feature image shows Christmas presents (Alamy) and Ciara Kelly