NEW words always catch my attention — “kidflation” is one I have not heard before.

It seems children are suffering because there has been a huge rise in the cost of things they buy and parents are cutting back on pocket money.

According to research by the Santander bank and an education charity, Personal Finance Education Group, “kidflation” has gone up 14.3 per cent in the past three years.

There has been a massive hike in the price of sweets, chocolates, soft drinks and all the other things that excite our children.

To make matters worse, almost half of the parents questioned in a survey have either reduced or stopped pocket money.

And some of those who have not made reductions insist that their children earn their money by doing chores.

Quite right, older folk will say.

There is nothing new about this.

I remember walking home 15 miles from school knowing that I would have to clamber up half a dozen chimneys before my jam and bread supper and a night’s disturbed sleep in a bed shared with 10 siblings and a large dog.

(I am allowed to exaggerate — I am a columnist).

But I was always grateful for the thruppence I earned every two months.

The three “Penny Arrows”

I bought at the shop near the school tasted great.

You might take these reminiscences with a pinch of salt, but this new report goes against the perceived view — that today’s children are spoiled and get everything they want.

When you think about it, a recession that hits mum and dad will also affect their children.

A survey of 500 children found that the average amount of pocket money among kids aged between 10 and 16 was £5.50 a week.

You only need to look at the prices in the shops to realise that this amount will not go very far.

If “kidflation” is on the rise, it looks as though the bad old days could be back for today’s children.