Bag of Sinterklaas gifts 2.6 percent more expensive this year

The bag of gifts Sinterklaas brings to your door will cost the holy man 2.6 percent more this year than it did last year, according to calculations by ING Economic Bureau. The price of most traditional Sinterklaas gifts increased over the past year, at least partly due to the increase in the low VAT rate, NU.nl reports.

Sweets and chocolate letters are 3.3 percent and 5 percent more expensive respectively. Toys saw a price increase of 1.5 percent. Books and fragrances now cost 3.3 percent more. The only cheaper gift is jewelry, 1.2 percent cheaper than last year.

Despite the price increase and consumer confidence being slightly lower due to international turmoil, the willingness to buy this Sinterklaas season is still high, according to ING. The 'Sinterklaas inflation' is just below the general inflation rate of 2.7 percent.