Children have no idea of costs

British children have little idea what basic shopping items cost, according to a new survey.

Researchers found that most youngsters thought a pint of milk was more than twice its real cost, while almost a third (29 per cent) did not know the price of a stamp.

However, children are keen to learn more about saving and are looking to their parents for guidance, research from Halifax has revealed. Children think you would pay 1.12 for a pinta, compared with 45p in reality.

One in ten also admitted to not knowing the price of a packet of sweets, perhaps suggesting they are leaning towards healthier options.