Although the nation's shoppers will spend 8% more this Christmas season than they did last year, the increase in yuletide buying will not be inflationary, according to a First Union Corp. report released last week.

In its annual holiday season report, the Charlotte, N.C.-based bank holding company said that increased competition will bring prices down from last year's levels.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.